Massachusetts considers offering pensions to non-profits

Massachusetts Treasurer Timothy P. Cahill's office is preparing draft legislation to allow some non-profit organizations that don't offer pension benefits to use the state pension fund's infrastructure to "support non-profit pensions at low cost," said Eileen O'Connor, a spokeswoman for Mr. Cahill. One form that could take is allowing non-profits to set up 401(k)s that use the defined contribution options set up by the state's 457 plan, she said. The treasurer's office is conducting feasibility studies and outreach to non-profits to determine their needs, she said. No date was set for introduction of a bill.