Allows State, municipality, and county to implement automatic enrollment of their employees in deferred compensation plans.

This bill allows New Jersey state, county, and municipal employers to automatically enroll employees in deferred compensation plans (like retirement savings), with employees able to opt out or choose a different contribution rate. It mandates automatic enrollment for all new state employees hired after the law's effective date, requiring them to actively choose not to participate. For union-represented employees, employers must negotiate plan terms - including automatic enrollment - with the union, and without a written agreement, employees must affirmatively elect to join. The bill also requires setting a default investment option for employee contributions if they don’t specify one.