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MaineLD 355132nd Maine Legislature (2025-2026)SenateWALLET

An Act to Advance the Maine Retirement Savings Program

Sponsored By: Donna Bailey (Democratic)

Became Law

FINANCIAL INSTITUTIONS BUREAUFINANCIAL INSTITUTIONS BUREAU - ADMINSTRATION

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

More funding for Maine worker retirement

The law adds money to Maine’s Retirement Savings Program. It provides $0 for fiscal year 2025-26 and $625,000 for 2026-27. The State Controller must transfer $625,000 from Attorney General settlement funds into the program’s Enterprise Fund by June 30, 2027. The money follows state program rules (Title 5, chapter 7‑A) and helps run the program and reach workers without employer plans. The law takes effect April 16, 2026.

Sponsors & Cosponsors

Sponsor

  • Donna Bailey

    Democratic • Senate

Cosponsors

  • Anne-Marie Mastraccio

    Democratic • House

  • Joseph M. Baldacci

    Democratic • Senate

  • Peggy R. Rotundo

    Democratic • Senate

  • Matthea E. L. Daughtry

    Democratic • Senate

  • Michelle Boyer

    Democratic • House

  • Parnell Terry

    Democratic • House

  • Poppy Arford

    Democratic • House

  • Sally Cluchey

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. ACTPUB Chapter 744

    5/1/2026

  2. PASSED TO BE ENACTED, in concurrence.

    4/13/2026Senate

  3. PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.

    4/13/2026House

  4. The House RECEDED and CONCURRED to PASSAGE TO BE ENGROSSED as Amended by Committee Amendment "A" (S-305) as Amended by Senate Amendment "A" (S-667) thereto.ORDERED SENT FORTHWITH.

    4/13/2026House

  5. On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table On motion by Same Senator the Senate SUSPENDED THE RULES to RECONSIDER their actions whereby the Bill was PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (S-305) in concurrence. On further motion by Same Senator the Senate SUSPENDED THE RULES to RECONSIDER their actions whereby Committee Amendment "A" (S-305) was ADOPTED. On further motion by Same Senator Senate Amendment "A" (S-667) to Committee Amendment "A" (S-305) READ and ADOPTED. Committee Amendment "A" (S-305) as Amended by Senate Amendment "A" (S-667) thereto ADOPTED. PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-305) as Amended by Senate Amendment "A" (S-667) thereto in NON-CONCURRENCE. Sent down for concurrence.

    4/13/2026Senate

  6. CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.

    6/25/2025Senate

  7. On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT - Emergency -2/3 Elected Required

    6/11/2025Senate

  8. This being an emergency measure, a two-thirds vote of all the members elected to the House was necessary.PASSED TO BE ENACTED.Sent for concurrence. ORDERED SENT FORTHWITH.

    6/10/2025House

  9. CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-305).In concurrence. ORDERED SENT FORTHWITH.

    6/9/2025House

  10. Report READ and ACCEPTED.READ ONCE.Committee Amendment "A" (S-305) READ and ADOPTED.Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-305).Ordered sent down forthwith for concurrence.

    6/9/2025Senate

  11. CARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.

    3/21/2025Senate

  12. Received by the Secretary of the Senate on January 30, 2025 and REFERRED to the Committee on HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES pursuant to Joint Rule 308.2

    1/30/2025Senate

Bill Text

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