An Act relative to the 401(k) CORE program

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act relative to the 401(k) CORE program

An Act relative to the 401(k) CORE program By Representative Ferrante of Gloucester, a petition (accompanied by bill, House, No.

What This Bill Does

• 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.
• Status: Referred to House Committee on Ways and Means

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

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.
Status:
Referred to House Committee on Ways and Means

Current Bill Text

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Bill H.3332

SECTION 1. Section 64E of chapter 29 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking, in lines 5 and 6, the words “and employing not more than 20 persons,”

SECTION 2. Said section 64E of said chapter 29, as so appearing, is hereby further amended by inserting at the end thereof the following subsection:-

(g) Notwithstanding any general or special law to the contrary, the state treasurer, or designee, may seek to reduce operating expenses for the plan through private donations or grants, which may include direct and indirect fundraising.

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