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Bill

S 471

Provides that crimes committed against a person on school grounds shall be deemed to be one category higher than the specified crime the person committed

2025 Regular Session Introduced by Jim Tedisco and 1 co-sponsor

Massachusetts would create and maintain a government-backed model curriculum to improve seniors’ financial literacy and stability.

REFERRED TO CODES
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Bill Summary · S 471

Summary of S.471: An Act Supporting Seniors’ Financial Stability

Purpose and intent

S.471 seeks to enhance the financial stability of Massachusetts seniors by establishing and maintaining a formal, government-backed financial literacy curriculum. The bill would authorize the Office of the State Treasurer to develop, periodically review, and update a model curriculum designed to improve seniors’ financial literacy and stability, reflecting best practices and evolving needs.

Key provisions

  • Amends Chapter 10 of the General Laws (as appearing in 2020 Official Edition) by inserting a new Section 79 after Section 78.
  • Section 79 requires the Office of the State Treasurer to:
    • Develop a model curriculum to support seniors’ financial literacy and stability.
    • Periodically review and update this curriculum.
    • Do so in consultation with:
    • the Executive Office of Elder Affairs,
    • the Massachusetts Councils on Aging,
    • AARP Massachusetts.

Who would be affected

  • Primary beneficiaries: Massachusetts seniors and older adults.
  • State actors and partner organizations:
    • Office of the State Treasurer (responsible for developing and updating the curriculum),
    • Executive Office of Elder Affairs,
    • Massachusetts Councils on Aging,
    • AARP Massachusetts.
  • Indirect beneficiaries: programs or trainings that adopt the model curriculum for senior financial literacy.

Procedural and timeline context

  • Bill status: Introduced February 6, 2025; reported favorably by a committee and referred to the Senate Ways and Means.
  • Legislative actions (selected milestones):
    • February 6, 2025: Read twice and referred to the Committee on Finance; introduced in the Senate.
    • February 27, 2025: Referred to Elder Affairs.
    • March 31, 2025: Hearing scheduled (April 14, 2025).
    • June 27, 2025: Referred to the Aging and Independence committee (per order of the two branches).
    • July 14, 2025: Bill reported favorably by committee and referred to the Senate Ways and Means.
  • Related/supplementary notes:
    • Related companion bill: HR 1447 (House), and SD 1122 (replaces).
    • Sponsor: Patricia D. Jehlen (primary sponsor in the Senate) with a listed cosponsor/association to other named sponsors; the included names in the material also mention broader federal-like sponsors, which may reflect cross-reporting peculiarities in the text.

Potential impact

  • The bill focuses on education and preventive financial well-being rather than direct subsidies or monetary transfers.
  • It aims to standardize senior financial literacy training across state programs, potentially improving seniors’ ability to manage savings, pensions, Social Security, healthcare costs, scams, and overall financial decision-making.
  • Implementation would depend on theTreasurer’s office capacity and the level of collaboration with elder-services agencies and aging councils.

Note

No specific funding amounts or enforcement mechanisms are stated in the available text; details would be clarified during the committee process and in the final enacted language.

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

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