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H 40MASSACHUSETTSSession 194thState Billin committee

Massachusetts House Bill 40 expands 401(k) CORE plan eligibility and authorizes fundraising for operating expenses

Original title: An Act relative to the 401(k) CORE Plan

Last action · December 18, 2025: Bill reported favorably by committee and referred to the committee on House Ways and Means

Companion · S 2166same policy, Senate version

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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What This Bill Would Do

Massachusetts House Bill 40 removes the 20-employee limit for businesses participating in the state's and allows the state treasurer to seek private donations or grants to reduce plan operating expenses.

Why it matters

The measure changes retirement plan availability for employers of all sizes across the state and introduces private funding avenues for public plan administration.

Who It Would Affect

Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.

Directly affected

Employers

Employers regardless of staff size become eligible to participate in the 401(k) CORE Plan.

Directly affected

Office of the State Treasurer

The treasurer gains authorization to engage in fundraising and secure private grants or donations to reduce plan operating expenses.

Key Facts

Removes the requirement that participating employers employ not more than 20 persons under Section 64E of chapter 29.
Authorizes the state treasurer or a designee to seek private donations or grants, including direct and indirect fundraising, to reduce operating expenses for the plan.

Frequently Asked Questions

How can operating expenses for the plan be funded under the new provisions?

The state treasurer or a designee is permitted to seek private donations or grants, including direct and indirect fundraising, to reduce operating expenses.

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News Coverage

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Where This Stands

Currently in committee. The next step in the legislative lifecycle is Floor Vote.

Procedural history

5 actions

Dec 18, 2025HouseCommittee
Bill reported favorably by committee and referred to the committee on House Ways and Means
Oct 29, 2025Joint
Hearing rescheduled to 11/05/2025 from 10:30 AM-01:00 PM in B-2 and Virtual<br> <span style="color: blue; font-style: italic;">Hearing location changed</span>
Oct 27, 2025Joint
Hearing scheduled for 11/05/2025 from 10:30 AM-01:00 PM in A-2
Feb 27, 2025Senate
Senate concurred
Feb 27, 2025HouseCommittee
Referred to the committee on State Administration and Regulatory Oversight

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Connected Entities

Office of the State Treasurer, General Court

OrganizationOffice of the State Treasurer“Department submitting recommendations and authorized to seek funding.”Map →

OrganizationGeneral Court“Legislative body providing public information.”Map →

Sources

Open source document

malegislature.gov

Analysis Score

0–100

Significance45
How much this matters to a regular citizen
Controversy10
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

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