S 2166
An Act relative to the 401(k) CORE plan
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Bill overview
This bill, S.2166, addresses the 401(k) CORE plan, a program designed to provide financial incentives for employers to contribute to employee retirement savings. The bill seeks to establish regulations and oversight related to this plan, aiming to encourage greater participation in retirement savings among Massachusetts workers. It is currently under review by the Senate Committee on State Administration and Regulatory Oversight and the Senate Ways and Means Committee.
Key provisions
- Establishes regulations for the 401(k) CORE plan.
- Focuses on providing financial incentives to employers.
- Aims to increase employee participation in retirement savings.
- Subject to review by the Senate Committee on State Administration and Regulatory Oversight.
- Currently being considered by the Senate Ways and Means Committee.
Who is affected
- Massachusetts employers
- Employees of Massachusetts employers
- Retirement savings plan participants
Notable changes
- The bill introduces regulatory oversight for the 401(k) CORE plan.
- It seeks to expand access to retirement savings options for employees.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Joan B. Lovely
Cosponsor
Joan B. Lovely
Arguments in favor
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Bill S.2166 194th (Current)
An Act relative to the 401(k) CORE plan
By Ms. Lovely, a petition (accompanied by bill, Senate, No. 2166) of Joan B. Lovely for legislation relative to the 401(k) CORE plan. State Administration and Regulatory Oversight.
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Bill Information
Bill Information
Presenter: Joan B. Lovely Status: Referred to Senate Committee on Ways and Means
Tabs
Bill History Petitioners Committee Vote Primary Sponsor Summary
Bill History
Displaying 5 actions for Bill S.2166
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on State Administration and Regulatory Oversight |
| 2/27/2025 | House | House 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 |
| 12/24/2025 | Senate | Bill reported favorably by committee and referred to the committee on Senate Ways and Means |
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