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Educators, officials testify in support of restoring employer match to state deferred compensation plan
Summary
Witnesses backed Senate Bill 20 to reinstate the employer match on state deferred compensation contributions suspended in 2008; the insurance commissioner raised funding-structure concerns. The committee heard testimony but did not record a vote.
The Senate Elections & Government Affairs Committee heard testimony on Senate Bill 20, which proposes reinstating the employer contribution match for state employees’ deferred compensation accounts that was suspended in July 2008.
Senate staff described the match as a recruitment and retention tool for state government: the state previously offered an employer match to help…
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