A new multi- employer 401(k) makes it easier for employees of small nonprofit organizations in Massachusetts to save for retirement.
The CORE Plan (Connecting Organizations to Retirement) aims to help more workers save through automatic payroll deductions. Nonprofits with up to 20 employees can voluntarily join the plan, and their employees are automatically enrolled unless they opt out.
The Office of the State Treasurer and Receiver General manages the investments and handles administrative responsibilities to ease the burden on employers. For details, go to ma-employer-core.com.