MA H1076

Bill

Relative to secure choice retirement savings plan

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to establish secure choice retirement savings plans. Financial Services.

AI Summary

This bill establishes the Secure Choice Retirement Savings Plan, which includes two programs: the Secure Choice Individual Retirement Account Program (IRAP) and the Secure Choice Multiple-Employer Retirement Account Program (MERP). The IRAP is a payroll deduction IRA program that automatically enrolls eligible employees, while the MERP is a qualified 401(a) profit-sharing plan that allows voluntary participation by eligible employers. The bill creates a Secure Choice Retirement Savings Board to develop and administer these programs, which are designed to provide retirement savings options for employees whose employers do not offer a qualified plan or payroll deduction IRA. The bill also outlines provisions related to investment, risk management, benefits, disclosure requirements, and enforcement.

Committee Categories

Business and Industry

Sponsors (50)

Jennifer Benson (D), David Biele (D), Michael Brady (D), Paul Brodeur (D), Pete Capano (D), Mike Connolly (D), Brendan Crighton (D), Daniel Cullinane (D), Marjorie Decker (D), Diana Dizoglio (D), Mindy Domb (D), Dan Donahue (D), William Driscoll (D), Michelle DuBois (D), Jamie Eldridge (D), Sean Garballey (D), Denise Garlick (D), Carmine Gentile (D), Thomas Golden (D), Carlos González (D), Natalie Higgins (D), Dan Hunt (D), Pat Jehlen (D), Mary Keefe (D), David LeBoeuf (D), Jack Lewis (D), Jay Livingstone (D), Adrian Madaro (D), Elizabeth Malia (D), Paul Mark (D), Joe McGonagle (D), Christina Minicucci (D), Frank Moran (D), Brian Murray (D), Harold Naughton (D), Tram Nguyen (D), Jim O'Day (D), Marc Pacheco (D), Denise Provost (D), Angelo Puppolo (D), Becca Rausch (D), Maria Robinson (D), Dave Rogers (D), Mike Rush (D), Alan Silvia (D), Tom Stanley (D), José Tosado (D), Steve Ultrino (D), John Velis (D), Tommy Vitolo (D),

Last Action

Accompanied a study order, see H5160 (on 12/01/2020)

Official Document

https://malegislature.gov/Bills/191/H1076

(20 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H1076
Bill	https://malegislature.gov/Bills/191/H1076.pdf

Bill	Bill Name	Last Action	Type
H2196	Relative to certain option B and option C retirees	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H2197	Relative to ordinary disability retirements	Accompanied a study order, see H4722	Similar To
H2268	Relative to retirement benefits for Thomas Brian Donnelly	Accompanied a study order, see H4722	Similar To
H2316	Relative to the retirement rights of criminal prosecutors	Accompanied a study order, see H4722	Similar To
H2357	Relative to the retirement of Michael Gallerani	Accompanied a study order, see H4722	Similar To
H2371	Relative to National Guard benefits	Accompanied a study order, see H4722	Similar To
H2373	Relative to chapter 15A	Read; and referred to the committee on House Ways and Means	Similar To
H2386	Relative to veterans retirement and pensions	Accompanied a study order, see H4722	Similar To
H3153	Relative to the Massachusetts Bay Transportation Authority	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H4158	Relative to the disability retirement of Ryan Moore and Donald Demiranda, police officers in the town of Falmouth	Amended by substitution of a bill with the same title, H4666	Similar To
H5160	Study Order - payments and insurance	Discharged to the committee on House Rules	Replaced by
S1543	Resolve establishing a study on alternative retirement benefits of public employees	Accompanied a study order, see S2545	Similar To
S1544	Resolve establishing a study on providing absolute social security coverage for public employees	Accompanied a study order, see S2545	Similar To
S1549	Allowing for payment in lieu of a disability allowance	Accompanied a study order, see S2545	Similar To
S1558	Providing for an equitable Massachusetts Teachers’ Retirement System pension for Paul C. Nordberg	Accompanied a study order, see S2545	Similar To
S1582	Relative to non-public school service	Accompanied a study order, see S2545	Similar To
S1593	Relative to the retirement options of certain educational personnel	Accompanied a study order, see S2545	Similar To
S2257	Authorizing employees of the city of Fall River the ability to apply with the Fall River Retirement Board to purchase credible service for military service	Signed by the Governor, Chapter 173 of the Acts of 2020	Similar To
S2337	To extend veterans retirement buyback opportunities	Accompanied a study order, see S2545	Similar To
S2451	Relative to creditable service for Lisa Emma, a member of the Massachusetts Teachers' Retirement System	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill

Bill Name

Last Action

Type

H2196

Relative to certain option B and option C retirees

Bill reported favorably by committee and referred to the committee on House Ways and Means

Similar To

H2197

Relative to ordinary disability retirements

Accompanied a study order, see H4722

Similar To

H2268

Relative to retirement benefits for Thomas Brian Donnelly

Accompanied a study order, see H4722

Similar To

H2316

Relative to the retirement rights of criminal prosecutors

Accompanied a study order, see H4722

Similar To

H2357

Relative to the retirement of Michael Gallerani

Accompanied a study order, see H4722

Similar To

H2371

Relative to National Guard benefits

Accompanied a study order, see H4722

Similar To

H2373

Relative to chapter 15A

Read; and referred to the committee on House Ways and Means

Similar To

H2386

Relative to veterans retirement and pensions

Accompanied a study order, see H4722

Similar To

H3153

Relative to the Massachusetts Bay Transportation Authority

Bill reported favorably by committee and referred to the committee on House Ways and Means

Similar To

H4158

Relative to the disability retirement of Ryan Moore and Donald Demiranda, police officers in the town of Falmouth

Amended by substitution of a bill with the same title, H4666

Similar To

H5160

Study Order - payments and insurance

Discharged to the committee on House Rules

Replaced by

S1543

Resolve establishing a study on alternative retirement benefits of public employees

Accompanied a study order, see S2545

Similar To

S1544

Resolve establishing a study on providing absolute social security coverage for public employees

Accompanied a study order, see S2545

Similar To

S1549

Allowing for payment in lieu of a disability allowance

Accompanied a study order, see S2545

Similar To

S1558

Providing for an equitable Massachusetts Teachers’ Retirement System pension for Paul C. Nordberg

Accompanied a study order, see S2545

Similar To

S1582

Relative to non-public school service

Accompanied a study order, see S2545

Similar To

S1593

Relative to the retirement options of certain educational personnel

Accompanied a study order, see S2545

Similar To

S2257

Authorizing employees of the city of Fall River the ability to apply with the Fall River Retirement Board to purchase credible service for military service

Signed by the Governor, Chapter 173 of the Acts of 2020

Similar To

S2337

To extend veterans retirement buyback opportunities

Accompanied a study order, see S2545

Similar To

S2451

Relative to creditable service for Lisa Emma, a member of the Massachusetts Teachers' Retirement System

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

Bill > H1076

MA H1076

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (50)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary