MA H1143

Establishes the Massachusetts Secure Choice Savings Program, an automatic enrollment payroll deduction IRA for private-sector employees whose employers do not offer qualified retirement plans

Requires employers with 5+ employees, in business at least 2 years, and without existing retirement plans to automatically enroll workers and facilitate payroll deduction contributions to the Program

Creates a 7-member Massachusetts Secure Choice Savings Board, chaired by the State Treasurer, to administer the Program, select investment managers, and set default contribution rates and investment options

Imposes penalties of $250 per employee per year for employer failure to enroll employees, increasing to $500 per year for continued non-compliance after initial penalty assessment

Program implementation required within 24 months of enactment; Fund assets are not Commonwealth property and the state bears no liability for investment performance or benefit payments