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HOUSE DOCKET, NO. 3025 FILED ON: 1/16/2025
HOUSE . . . . . . . . . . . . . . . No. 2809
The Commonwealth of Massachusetts
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PRESENTED BY:
Carol A. Doherty
_________________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act requiring administrators of certain retirement plans to disclose conflicts of interest.
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PETITION OF:
NAME:DISTRICT/ADDRESS :DATE ADDED:Carol A. Doherty3rd Bristol1/16/2025Vanna Howard17th Middlesex2/3/2025Michael D. BradySecond Plymouth and Norfolk2/3/2025Christopher Richard Flanagan1st Barnstable2/3/2025Rodney M. Elliott16th Middlesex2/3/2025Danillo A. Sena37th Middlesex2/3/2025Erika Uyterhoeven27th Middlesex2/7/2025James K. Hawkins2nd Bristol2/11/2025Jacob R. OliveiraHampden, Hampshire and Worcester2/11/2025Natalie M. Higgins4th Worcester2/11/2025 1 of 2
HOUSE DOCKET, NO. 3025 FILED ON: 1/16/2025
HOUSE . . . . . . . . . . . . . . . No. 2809
By Representative Doherty of Taunton, a petition (accompanied by bill, House, No. 2809) of
Carol A. Doherty and others for legislation to require administrators of certain retirement plans
of employees of subdivisions of the Commonwealth to disclose conflicts of interest. Public
Service.
The Commonwealth of Massachusetts
_______________
In the One Hundred and Ninety-Fourth General Court
(2025-2026)
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An Act requiring administrators of certain retirement plans to disclose conflicts of interest.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Section 37b of Chapter 71 of the General Laws, as appearing in the 2020
2Official Edition is hereby amended by inserting after the word “individual” in line 56 the
3following:-
4 “On or after January 1, 2026, any company that administers a retirement plan offered by
5a political subdivision of the state to the employees of such political subdivision shall disclose to
6each participant in such retirement plan: (1) The fee ratio and return, net of fees, for each
7investment under the retirement plan, and (2) the fees paid to any person who, for compensation,
8engages in the business of providing investment advice to participants in the retirement plan
9either directly or through publications or writings. Such disclosures shall be made upon initial
10enrollment in the retirement plan and at least annually thereafter. For the purposes of this section,
11"retirement plan" means any retirement plan created in accordance with the provisions of Section 2 of 2
12403(b) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue
13code of the United States, as amended from time to time.”