Yes, it does. Members who voluntarily enroll in the DCP can opt in to the auto escalation feature by logging into their SURS Member Website. Go to surs.org and click on the Member Login button, then click on the blue button that reads Enroll in the SURS DCP or SURS Deferred Compensation Plan if you have already enrolled. From the SURS DCP site (Voya), click on Manage Contributions, and then click on Set Up Now.
Members who originally began contributing to SURS on or after July 1, 2023, were automatically enrolled into the DCP (unless they opted out during the opt-out period). Members who were automatically enrolled into the DCP and are still contributing at the default rate of 3% pre-tax will see an automatic increase in their deferral amount of 1% each July 1st, up to a maximum of 10% deferral. This annual increase will begin on the July 1st after the member has been in the plan for at least 180 days. For example, members who were automatically enrolled in the SURS DCP from 7/1-12/31 and are still contributing at the default 3% pre-tax rate will be auto-escalated on the following July 1st. Any change to the contribution deferral rate (including a change from the pre-tax default to a Roth election) will remove the member from the automatic rate escalator.