Bill

Bill > H34


MA H34

Relative to SMART Plan budgets


summary

Introduced
04/13/2021
In Committee
03/24/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

So much of the recommendations of the Department of the State Treasurer (House, No. 25) as relates to SMART Plan budgets. State Administration and Regulatory Oversight.

AI Summary

This bill amends Section 64 of Chapter 29 of the General Laws to allow the State Treasurer, on behalf of the deferred compensation program (SMART Plan), to adopt annual and supplemental budgets. These budgets may include salaries for Treasury employees who work on or administer the SMART Plan, and can be funded from the SMART Plan's administrative expense account. Any Treasury employees whose compensation is sourced from the SMART Plan will be considered "employees" and members of the Massachusetts State Employees' Retirement System.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (0)

No sponsors listed

Last Action

No further action taken (on 01/03/2023)

bill text


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