An Act to encourage retirement planning
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes the creation of a Massachusetts Secure Choice Savings Program to encourage residents to plan for retirement. The program aims to provide a way for individuals to save for retirement, potentially with state matching contributions. It’s intended to supplement existing retirement savings options and address gaps in retirement preparedness among Massachusetts residents. The bill has been referred to the House Committee on Ways and Means for further consideration.
Key provisions
- Establishment of a Massachusetts Secure Choice Savings Program.
- Potential for state matching contributions to encourage savings.
- Designed to supplement existing retirement savings options.
- Aims to improve retirement preparedness among Massachusetts residents.
- The program will be overseen by the committee on Financial Services.
Who is affected
- Massachusetts residents
- Individuals seeking to save for retirement
- Financial Services sector
Notable changes
- This bill introduces a new state-sponsored retirement savings program.
- It builds upon previous attempts to encourage retirement planning in Massachusetts.
Bill text
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Sponsors
Official sponsors from legislative records.
15 on record
Primary sponsor
Cosponsors
James Arciero
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