An Act relative to the 401(k) CORE plan
This bill modifies the Massachusetts 401(k) CORE plan, a retirement savings program for small businesses with 20 or fewer employees. It removes the current employee count limit, allowing more small businesses to participate, and authorizes the state treasurer to seek private donations or grants to lower the plan's operating costs. These changes aim to expand access to retirement savings for smaller employers while reducing the financial burden on the program through external funding.
Bill status
passed
3 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Nov 2023
House Passage
Feb 2023
Governor
Introduced Feb 16, 2023
Last action Nov 22, 2023
Floor votes
How they voted
This bill passed the House. No roll call record of that vote is available.
Full legislative history
Actions timeline
Total actions
4
Key actions
2
Committee
2
Nov 22, 2023
Upper · Passed
Bill reported favorably by committee and referred to the committee on Senate Ways and Means
upper
Feb 16, 2023
Lower · Passed
House concurred
lower
Feb 16, 2023
Committee
Referred to the committee on State Administration and Regulatory Oversight
upper
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Joan Lovely
DDemocratic
Co
Becca Rausch
DDemocratic
Co
Jake Oliveira
DDemocratic
Co
Lydia Edwards
DDemocratic
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