Bill > S1822

This bill aims to establish a retirement security program for personal care attendants and family child care providers in Massachusetts by creating a 403(b) retirement account or similar individual retirement account program. The program will be developed by the executive office of health and human services and the department of early education and care, in consultation with various stakeholders including labor unions. Key provisions include allowing eligible workers to contribute to their retirement accounts through payroll deductions, establishing a 9-member governance board with labor organization representation, mandating a minimum state employer contribution that will match employee contributions dollar-for-dollar (up to a certain percentage), ensuring the program is professionally managed with minimal fees, and providing a union-run retirement benefit orientation with financial literacy programs. The bill designates the department of medical assistance as the employer for personal care attendants and the department of early education and care as the employer for family child care providers for the purposes of this retirement program. The implementing agencies are required to establish the retirement account program and enrollment procedures within one year of the bill's passage.

Labor and Employment

https://malegislature.gov/Bills/194/S1822