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 employer or state matching contributions. It is intended to supplement existing retirement savings options and improve financial security for Massachusetts residents.
Key provisions
- Establishment of a Massachusetts Secure Choice Savings Program.
- Potential for employer or state matching contributions to encourage savings.
- Designed to supplement existing retirement savings options.
- Aims to improve financial security for Massachusetts residents.
- The bill was referred to the House Committee on Financial Services.
- A hearing was scheduled for October 30, 2025.
Who is affected
- Massachusetts residents
- Employees
- Employers
- Retirement savers
Notable changes
- This bill introduces a new state-sponsored savings program to bolster retirement planning.
- It may include mechanisms for employer or state matching contributions to incentivize participation.
Bill text
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Sponsors
Official sponsors from legislative records.
15 on record
Primary sponsor
Cosponsors
James Arciero
Arguments
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