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 Fire District Inks 3-Year Deal with New Chief

By Stephen DravisiBerkshires Staff

Jeffrey Dias of the Onset Fire Department has signed a contract to become Williamstown's fire chief. 
WILLIAMSTOWN, Mass. — The town's next fire chief says he was "ecstatic" when he heard that he would be offered the post.
 
On Tuesday afternoon, the Prudential Committee ratified a contract to make Jeffrey Dias the successor to Chief Craig Pedercini, who retired from the post on Monday.
 
"It's very sad to leave someplace you've been the better part of three decades," said Dias, currently the deputy chief and a long-time firefighter in the South Shore community of Onset. "But I'm very excited. A lot of big things are going to happen in the future."
 
The five-member Prudential Committee, which oversees the district, selected Dias on March 12 from among three candidates it interviewed earlier in the month.
 
Last week, the committee held an executive session — a rarity for the body — to discuss the negotiation of the contract. And on Tuesday, at a special meeting, the board voted to approve the deal.
 
Dias agreed to a three-year deal with a $125,000 base salary and 3 percent cost-of-living adjustments in years two and three.
 
"We are very excited to have Chief Dias lead the department forward as we look forward to the completion of our new station and the future of the Williamstown Fire Department," Prudential Committee Chair David Moresi said on Thursday.
 
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