Bill > S1694

This bill aims to provide retirement security to care workers, such as personal care attendants and family child care providers. It requires the Executive Office of Health and Human Services and the Department of Early Education and Care to develop and establish a 403(b) account or a similar individual retirement account program for these workers. The bill mandates minimum state employer contributions and matching contributions to these retirement accounts, and ensures labor organizations have a role in the governance and implementation of the program. The program must be professionally managed and administered in an efficient and cost-effective manner, and must include a union-run retirement benefit orientation and access to financial literacy programs.

Labor and Employment

https://malegislature.gov/Bills/192/S1694