Why is there a 2% 401k deduction on my paycheck? I never enrolled in 401k.

As of July 1, 2014 all newly hired eligible employees are automatically enrolled into the Hybrid Pension Plan. The 401k component of the plan includes an auto-enrolled 2% contribution from you.  You can change the amount of this percentage by contacting Empower Retirement Services by visiting www.empower-retirement.com or you may also call (800) 922-7772. Please note, by continuing to contribute, the state will also contribute a dollar for dollar match contribution up to $50 per month. For those eligible in the Hybrid Plan, there is also a 5% benefit amount contributed by the state to your plan regardless of whether or not you contribute to 401k.

For more detailed information on the Hybrid plan, please visit:  http://treasury.tn.gov/tcrs/PDFs/FAQsHybridpensionplan.pdf

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