Bill > H1395

This bill provides retirement security for personal care attendants and family child care providers by establishing an individual retirement account program administered by the Executive Office of Health and Human Services (EOHHS) and the Department of Early Education and Care (EEC). The program, which will be developed in consultation with various stakeholders including labor unions, will feature a 403(b) or similar retirement account with several key provisions: employees can contribute through payroll deductions, labor organizations will have a collective bargaining and governance role, a 9-member governance board will be created with representation from worker organizations, the state will provide a minimum employer contribution and matching contributions (potentially up to 100% of employee contributions), the program will be professionally managed with minimal fees, and will include a union-run retirement benefit orientation with financial literacy programs. Notably, the Department of Medical Assistance will be considered the employer for personal care attendants and the Department of Early Education and Care will be considered the employer for family child care providers for the purposes of this retirement program. The bill requires EOHHS and EEC to establish the program and enrollment procedures within one year of the Act's passage.

Health and Social Services, Labor and Employment

https://malegislature.gov/Bills/194/H1395