Bill > H3143

This bill amends the existing laws in Massachusetts related to the deferred compensation program, also known as the 401(k) CORE program. The key provisions are: 1. It allows the state treasurer to adopt annual and supplemental budgets for the deferred compensation program, which can include salaries for treasury employees working on or administering the program, and these employees will be considered members of the Massachusetts state employees' retirement system. 2. It removes the limitation on the number of persons the state treasurer can employ for the deferred compensation program. 3. It allows the state treasurer or their designee to seek private donations or grants, including through direct and indirect fundraising, to reduce the operating expenses of the deferred compensation plan.

Government Affairs

https://malegislature.gov/Bills/192/H3143