Bill > H3332

This bill modifies the state's deferred compensation program (401(k) CORE program) in two key ways. First, it removes language that previously limited the program to organizations employing not more than 20 persons, effectively expanding the potential scope of the program. Second, the bill allows the state treasurer or a designated representative to seek to reduce the program's operating expenses through private donations or grants, including both direct and indirect fundraising methods. This change provides more flexibility in funding the program and potentially reducing costs to the state by allowing external financial support. The bill appears to be a technical amendment to existing law that aims to broaden the program's applicability and create additional financial management options for the 401(k) CORE program.

Government Affairs

https://malegislature.gov/Bills/194/H3332