The bill establishes regulations for the use of electronic signatures by retirement boards governed under Massachusetts General Laws. It defines "electronic signature" to include various forms such as digital signatures, signatures received via fax, and those from scanned documents, provided they are legible. Retirement boards are permitted to use electronic signatures alongside traditional wet signatures, but must first promulgate a supplemental regulation approved by the Public Employee Retirement Administration Commission (PERAC) that outlines their intent and security procedures. The bill also clarifies that electronic signatures cannot be denied legal effect solely based on their electronic form if the necessary regulations are in place.

Additionally, the bill maintains the option for retirement boards and PERAC to continue using wet signatures and allows individuals to request to sign forms with a wet signature if electronic signatures are not authorized. It waives the witness requirement for electronically submitted forms, provided that appropriate security procedures are utilized. Overall, the legislation aims to modernize the signature process within retirement systems while ensuring security and legal validity.