H3332
An Act relative to the 401(k) CORE program
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Bill overview
This bill, An Act relative to the 401(k) CORE program, aims to establish and administer a deferred compensation program for state employees. It seeks to clarify the rules and procedures surrounding this program, ensuring transparency and proper management of employee contributions. The bill’s purpose is to standardize the administration of the 401(k) CORE program across the state government. It is currently being reviewed by the House Committee on State Administration and Regulatory Oversight.
Key provisions
- Establishes a framework for the 401(k) CORE program.
- Defines administrative procedures for the program.
- Addresses deferred compensation for state employees.
- Specifies reporting requirements related to the program.
- Outlines eligibility criteria for participation.
- Details investment options available within the program.
- Clarifies rules regarding withdrawals and distributions.
- Establishes a process for amending the program.
Who is affected
- State employees
- The State Administration and Regulatory Oversight department
- The State’s Deferred Compensation Program
Notable changes
- The bill introduces a standardized approach to managing the 401(k) CORE program.
- It clarifies existing rules and procedures related to employee contributions and distributions.
Sponsors
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Primary sponsor
Cosponsor
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Bill H.3332 194th (Current)
An Act relative to the 401(k) CORE program
By Representative Ferrante of Gloucester, a petition (accompanied by bill, House, No. 3332) of Ann-Margaret Ferrante relative to administering the deferred compensation program. State Administration and Regulatory Oversight.
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Bill Information
Bill Information
Presenter: Ann-Margaret Ferrante Status: Referred to House Committee on Ways and Means
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Bill History Petitioners Committee Vote Hearing Attendance
Bill History
Displaying 5 actions for Bill H.3332
| Date | Branch | Action |
| 2/27/2025 | House | Referred to the committee on State Administration and Regulatory Oversight |
| 2/27/2025 | Senate | Senate concurred |
| 10/27/2025 | Joint | Hearing scheduled for 11/05/2025 from 10:30 AM-01:00 PM in A-2 |
| 10/29/2025 | Joint | Hearing rescheduled to 11/05/2025 from 10:30 AM-01:00 PM in B-2 and Virtual Hearing location changed |
| 12/11/2025 | House | Bill reported favorably by committee and referred to the committee on House Ways and Means |
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