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S 1879

An Act expanding access to retirement savings

194th Legislature (2025-2026) Introduced by Joan Lovely

Massachusetts bill expands retirement savings access for workers lacking employer plans through state-facilitated programs, addressing retirement security gaps for self-employed and small business employees.

Hearing scheduled for 04/14/2025 from 01:00 PM-04:00 PM in A-1
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Bill Summary · S 1879

Legislative bill overview

S 1879 expands access to retirement savings programs for Massachusetts residents, likely by establishing or modifying state-facilitated retirement savings options for workers without employer-sponsored plans. The bill aims to address the retirement security gap for self-employed individuals and employees of small businesses who lack access to traditional 401(k)s or similar programs.

Why is this important

Approximately 40% of American workers lack access to employer-sponsored retirement plans, making them less likely to save for retirement. Massachusetts legislation in this area could serve as a model for other states and directly increase retirement security for hundreds of thousands of residents who currently have limited savings mechanisms available.

Potential points of contention

  • Implementation costs and administration: Who bears the cost of establishing and maintaining a state-run system—the state, participating employers, or individual savers—remains a critical detail
  • Private sector concerns: Financial services and insurance industries may oppose state-run programs as competitive threats to their retirement product offerings
  • Participation rates and effectiveness: Whether auto-enrollment or other mechanisms sufficiently incentivize participation to justify the program's administrative complexity and expense

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

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