STATEMENT TO

[First Reprint]

ASSEMBLY, No. 4562

with Senate Floor Amendments

(Proposed by Senator MCKEON)

ADOPTED: DECEMBER 22, 2025

      These floor amendments change an automatic enrollment arrangement in a deferred compensation plan to be optional for the State, instead of mandatory, similar to the arrangement for counties and municipalities.  The amendments remove a provision applying to employees of State institutions of higher education.