Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB1196 by Miles (Relating to automatic employee participation in and administration of a deferred compensation plan provided by certain hospital districts.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend the Government Code to authorize certain hospital districts to offer a deferred compensation plan that would include provisions for the automatic enrollment of new employees unless the employee affirmatively elects not to participate.
Local Government Impact
While hospital districts electing to automatically enroll new employees in a deferred compensation plan could have additional marginal costs due to an expected increase in enrollment, no significant fiscal implication to these districts is anticipated.