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Bill

HD 3445

An Act expanding access to retirement savings

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

Massachusetts expands retirement savings access for workers lacking employer plans, likely through state-facilitated accounts to increase retirement security and financial equity.

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WeVote Research Nonpartisan
Bill Summary · HD 3445

Legislative bill overview

HD 3445 expands access to retirement savings accounts for Massachusetts residents, particularly targeting workers in small businesses and the self-employed who lack employer-sponsored plans. The bill establishes mechanisms to increase retirement security by reducing barriers to saving, likely through a state-facilitated program or regulatory changes that lower costs and administrative burdens.

Why is this important

Approximately 40% of American workers lack access to employer retirement plans, leaving them to navigate individual retirement accounts independently. Massachusetts workers without workplace pensions face lower retirement savings rates and increased financial insecurity in retirement, making expanded access a public health and economic equity issue.

Potential points of contention

  • Cost and funding: Whether the state or employers bears administrative costs and whether any public funding is required to establish or maintain the program
  • Mandate scope: Whether participation is voluntary or if certain employers/workers face obligations to enroll, which could create compliance challenges
  • Investment options and risk: What investment choices are offered and who bears responsibility if returns underperform or assets are lost

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

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