A covered employee of a participating employer may elect to opt out of the Program. A covered employee of a participating employer who elects to opt out of the Program may re–enroll in the Program in accordance with procedures established by the Board. After the Board opens the Program for enrollment, an employee of a nonparticipating employer may elect to participate in the Program as authorized by the Board. A participating employee may terminate participation in the Program at any time in a manner prescribed by the Board. Unless otherwise specified by the employee, a participating employee shall contribute a fixed percentage or dollar amount of the employee’s salary or wages to the Program. By regulation, the Board shall set and may adjust the default contribution amount set in subsection (e) of this section. The assets in a participating employee’s Program account are the property of the participating employee.