An Act relative to the SMART Plan

This bill modifies Massachusetts' deferred compensation program for state government employees. It allows automatic enrollment for new Commonwealth employees hired on or after June 1, 2022, without requiring prior consent - creating an exception to standard payroll deduction rules. Key features include automatic annual contribution increases (unless opted out), a 90-day window to discontinue participation with a refund, and mandatory default investment options. The policy specifically applies to new state employees and gives agencies discretion for certain departments using 403(b) plans. It does not affect existing employees or private-sector workers.