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H 2825

An Act expanding access to retirement savings

194th Legislature (2025-2026) Introduced by Ann-Margaret Ferrante

H 2825 expands retirement savings access for Massachusetts workers lacking employer plans through state-facilitated programs to improve retirement security.

Accompanied a study order, see H5312 (under House Rule 27)
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Bill Summary · H 2825

Legislative bill overview

H 2825 expands access to retirement savings options for Massachusetts residents, particularly those without employer-sponsored plans. The bill aims to increase retirement security by creating or facilitating new pathways for workers to save for retirement, likely through state-facilitated programs similar to those established in other states.

Why is this important

Many workers, particularly those in small businesses or self-employed, lack access to employer 401(k) plans or similar retirement vehicles, leaving them unprepared for retirement. Expanding accessible retirement savings options addresses a significant gap in financial security for middle and working-class Massachusetts residents and reduces potential future reliance on public assistance programs.

Potential points of contention

  • Administrative burden and costs: Questions about whether the state should bear administrative costs or if these should be passed to participants through fees, and whether small employers will face compliance requirements
  • Market competition concerns: Private financial services industry may object to state-facilitated programs as unfair competition or government overreach into private retirement markets
  • Participation rates and effectiveness: Uncertainty about whether automatic enrollment or other mechanisms will actually achieve meaningful retirement savings increases, or if the program becomes an underutilized bureaucratic expense

Compiled from official sources — confirm details with the bill’s official record.

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