Bill > S1649

This bill aims to provide retirement security to care workers, such as personal care attendants and family child care providers, by establishing a 403(b) account or similar individual retirement account program. The key provisions of the bill include: requiring the Executive Office of Health and Human Services and the Department of Early Education and Care to develop and implement the retirement account program; allowing eligible individuals to contribute through payroll deductions and other means; providing for a governance board with labor representation; mandating a minimum state employer contribution and a minimum state employer matching contribution; and ensuring the program is professionally managed and administered efficiently with limited fees. The bill also requires the program to be established within one year of the bill's passage.

Labor and Employment

https://malegislature.gov/Bills/193/S1649