House Passes Bill for Nonprofit Pension Plan

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BOSTON — State Rep. Gailanne M. Cariddi has announced legislation passed last week in the House of Representatives that would allow the state treasurer's office to offer a tax-deferred retirement savings plan to employees of nonprofit organizations. 

The House passed the bill 145-7.

"Many nonprofits work hard to provide health care and human services, and many other valuable services, but don't have the resources to offer a retirement plan for their hard-working staff, who likely not make significant pay," said the North Adams Democrat. "This is will be rewarding for nonprofit employees, as it should be, and it will likely mean greater worker retention in those areas. I'm hoping the Senate will favor the bill as well."

Some 14 percent of workers, nearly a half-million, are employed by nonprofits in the state.

The retirement savings plan that the Treasury is aspiring to create would be similar to a 401(k) or a 403(b). The plan that will be established for NPOs will deduct pre-tax dollars from an employee's paycheck and invest them in a tax deferred market portfolio. The treasurer's office would administer the participant-funded plan at no cost to taxpayers.


House Speaker Robert A. DeLeo said, "these NPOs provide critical services for a wide-ranging demographic. The passage of this bill sends the message that our government cares about these groups and the people they help."

Pending final passage of this bill, the Treasury plans to work with the Internal Revenue Service to establish a retirement savings program that would be made available to all of the non-profit organizations in the state.

The bill, H. 3754, is now on its way to the Senate and then Gov. Deval Patrick for further approval. 

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Williamstown Dedicates Max Rothschild Memorial Skatepark

By Stephen DravisiBerkshires.com Sports
WILLIAMSTOWN, Mass. — As hundreds gathered to celebrate the opening of the town's new skatepark, the minds of many were on the one person they most wished could be in attendance.
 
The park on Stetson Road "officially" opened with a ribbon cutting a little after 2 p.m., two hours after attendees started using their skateboards, bicycles, scooters and rollerblades at the Max Rothschild Memorial Skatepark.
 
And just before the ribbon was cut, Adam Rothschild talked about his 7-year-old son, for whom the venue was named.
 
"As much as Max loved sports and adventure, what really made him special was his exuberance — the exuberance he brought to every day," Rothschild told the crowd. "He approached life with confidence, energy and a sense of fun and mischief that was contagious. He loved playing with [siblings] Ellie and Caleb and with his friends. He was competitive. He could be bossy. And he certainly liked to do things his own way.
 
"But, above all, he was fun to be around. He brought energy and excitement and a lot of love wherever he went.
 
"I think that's what makes this skatepark such a fitting place to honor Max. A skatepark is about more than skateboarding. It is about community and friendship. It's about trying something new, taking a chance, falling down, getting back up and having fun all along the way. It's a place where kids can challenge themselves, cheer each other on and make memories together. And that sounds a lot like Max."
 
The Rothschild family joined organizers who fund-raised to make the park happen and local government officials in a day that included trick competitions, music and food.
 
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