H4250B
Governor's Amendment
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill, a Governor’s Amendment to House Bill 4240, proposes establishing a task force to examine options for promoting financial security in retirement for Massachusetts residents. Instead of immediately creating a state-run retirement savings program and employer mandates, the Governor recommends forming this task force to assess feasibility, costs, and potential impacts before any action is taken. The task force will include representatives from various stakeholders, including the Treasurer, Commissioner of Revenue, and employer groups.
Key provisions
- Creation of a task force to review retirement security options.
- The task force will be chaired by the Treasurer.
- The task force will assess the feasibility of a state-run retirement savings program.
- The task force will examine benefits for employers offering retirement programs.
- The task force will explore ways to reduce administrative costs for employers.
- The task force will consider enforcement mechanisms for retirement savings requirements.
- The task force will submit a public report by July 1, 2026.
Who is affected
- Massachusetts residents
- Employers in Massachusetts
- The Treasurer’s Office
- The Commissioner of Revenue’s Office
- Stakeholders in the retirement savings industry
Notable changes
- The bill was amended to create a task force instead of immediately establishing a state retirement savings program.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Maura T. Healey
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Governor's Message H.4250, Appendix B 194th (Current)
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Bill Information
Bill Information
Sponsor: Maura T. Healey
Similar Bills
H.4250, Appendix C 194th (Current)
Governor's Amendment
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