S 1794
An Act requiring administrators of certain retirement plans to disclose conflicts of interest
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill requires administrators of retirement plans in Massachusetts to openly disclose any conflicts of interest they may have. The goal is to increase transparency and protect participants’ retirement savings. By revealing potential conflicts, the bill aims to ensure that administrators are acting in the best interests of those contributing to the plans. This legislation seeks to build trust and accountability within the retirement plan administration system.
Key provisions
- Retirement plan administrators must disclose conflicts of interest.
- The disclosure must be clear and understandable to plan participants.
- Administrators are required to maintain records of these disclosures.
- The Public Service committee will oversee the implementation of these requirements.
Who is affected
- Retirement plan administrators
- Retirement plan participants
- Massachusetts residents with retirement plans
Notable changes
- Currently, the level of required disclosure of conflicts of interest is not explicitly defined.
- This bill introduces a mandatory disclosure requirement.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Michael D. Brady
Cosponsors
Bruce E. Tarr
Jacob R. Oliveira
James B. Eldridge
James K. Hawkins
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Bill S.1794 194th (Current)
An Act requiring administrators of certain retirement plans to disclose conflicts of interest
By Mr. Brady, a petition (accompanied by bill, Senate, No. 1794) of Michael D. Brady, Vanna Howard, Jacob R. Oliveira, James K. Hawkins and other members of the General Court for legislation to require administrators of certain retirement plans to disclose conflicts of interest. Public Service.
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Bill Information
Bill Information
Presenter: Michael D. Brady
Tabs
Bill History Petitioners Primary Sponsor Summary
Bill History
Displaying 5 actions for Bill S.1794
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Public Service |
| 2/27/2025 | House | House concurred |
| 6/30/2025 | Joint | Hearing scheduled for 07/09/2025 from 01:00 PM-05:00 PM in B-1 |
| 7/8/2025 | Joint | Hearing rescheduled to 07/09/2025 from 01:00 PM-05:00 PM in A-2 |
| 12/4/2025 | Senate | Accompanied a study order, see S2786 |
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H.2809 194th (Current)
An Act requiring administrators of certain retirement plans to disclose conflicts of interest
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