Deferred compensation plans, local; locality to provide automatic enrollment of all employees. (HB1742)

Introduced By

Del. Brenda Pogge (R-Williamsburg)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Local deferred compensation plans. Permits a locality to provide for automatic enrollment of all employees in a deferred compensation plan. Read the Bill »


Bill Has Failed


01/07/2009Prefiled and ordered printed; offered 01/14/09 098342686
01/07/2009Referred to Committee on Appropriations
01/19/2009Assigned App. sub: Compensation and Retirement (Jones, S.C.)
01/19/2009Assigned App. sub: Compensation and Retirement (Hogan, Clarke N.)
01/22/2009Impact statement from VRS (HB1742)
02/10/2009Left in Appropriations


Chris writes:

Here go again with another conservative out of touch with everyday citizens working for local goverment. Lets take away their retirement benefit and gamble with the money on wall street. If this bill passes the men and women that are public servants in the commonwealth will have their retirement in jeopardy.

Michael Perkins writes:

Read the book, "Nudge"? Automatic enrollment improves employee retirement savings by making the default option to save for retirement. From my read of this bill, it would still allow employees to "opt-out" if they so chose.