HOUSE DOCKET, NO. 3443        FILED ON: 1/17/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

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PRESENTED BY:

Ann-Margaret Ferrante

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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 program.

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PETITION OF:

HOUSE DOCKET, NO. 3443        FILED ON: 1/17/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3031 OF 2023-2024.]

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Fourth General Court
(2025-2026)

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

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 2020 Official Edition, is hereby amended by striking, in lines 5 and 6, the words “and employing not more than 20 persons,”

SECTION 2. Said section 64E of said chapter 29, 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.