Bill > H40

This bill amends Section 64E of Chapter 29 of the Massachusetts General Laws related to the 401(k) CORE Plan (a retirement savings program for certain state employees). The bill removes language that previously limited the plan to employers with 20 or fewer employees, effectively expanding the plan's potential applicability. Additionally, the bill introduces a new provision that allows the state treasurer or their designee to seek ways to reduce the plan's operating expenses by accepting private donations or grants, including through direct and indirect fundraising methods. This change provides more flexibility for managing the plan's financial resources and potentially reduces costs to the state by allowing alternative funding sources. The bill appears to be aimed at making the 401(k) CORE Plan more adaptable and financially sustainable.