An Act relative to the 401(k) CORE program

This bill amends Massachusetts law to expand eligibility for the CORE 401(k) retirement program by removing the previous restriction that limited participation to employers with more than 20 employees. It directly affects small employers (previously excluded under the 20-employee cap) by allowing them to join the CORE program. The key provision adds authority for the state treasurer to seek private donations or grants to reduce the program’s operating costs, without changing the core retirement benefits offered. The changes focus on broadening access and improving program efficiency.