HOUSE DOCKET, NO. 3266        FILED ON: 1/16/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1730

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Robert M. Koczera

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to employer retirement contribution tranches.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Robert M. Koczera

11th Bristol

1/16/2015

Benjamin Swan

11th Hampden

8/9/2019


HOUSE DOCKET, NO. 3266        FILED ON: 1/16/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1730

By Mr. Koczera of New Bedford, a petition (accompanied by bill, House, No. 1730) of Robert M. Koczera and Benjamin Swan relative to matching contributions or annual additions by employers to retirement plans of employees.  Labor and Workforce Development.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Eighty-Ninth General Court
(2015-2016)

_______________

 

An Act relative to employer retirement contribution tranches.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Chapter 149 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting after section 181 the following section:-

Section 181A.  Notwithstanding the provisions of section 181, or any other law to the contrary, no person, firm, corporation or other entity providing a matching contribution or annual addition to a 401(k) plan shall make such payment in a single lump sum in any taxable year on behalf of or to an employee.  For the purposes of this section “401(k) plan” means a traditional 401(k), a safe harbor 401(k), a SIMPLE 401(k) or an automatic enrollment 401(k) created pursuant to 26 U.S.C. section 401(k). Any matching contribution or annual addition by an employer to an employee 401(k) plan shall made at the regular pay period for such employee’s wages or compensation.