SENATE DOCKET, NO. 1827        FILED ON: 2/18/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2084

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Joan B. Lovely

_________________

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 the 401(k) CORE plan.

_______________

PETITION OF:

 

Name:

District/Address:

Joan B. Lovely

Second Essex


SENATE DOCKET, NO. 1827        FILED ON: 2/18/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2084

By Ms. Lovely, a petition (accompanied by bill, Senate, No. 2084) of Joan B. Lovely for legislation relative to the 401(k) CORE plan.  State Administration and Regulatory Oversight.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Second General Court
(2021-2022)

_______________

 

An Act relative to the 401(k) CORE plan.

 

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

SECTION 1. Section 64E of chapter 29 of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by striking, in lines 5 and 6, the following:- “and employing not more than 20 persons,”

SECTION 2. Said section 64E of said chapter 29 of the General Laws, as so appearing, is hereby further amended by inserting at the end thereof the following subsection:-

(g) Notwithstanding any general or special law to the contrary, the state treasurer, or designee, may seek to reduce operating expenses for the plan through private donations or grants, which may include direct and indirect fundraising.