This bill amends Chapter 42-72 of the General Laws concerning the Department of Children, Youth, and Families (DCYF) by introducing a new section that mandates the department to assess and apply for social security benefits, supplemental security income, veterans benefits, and railroad retirement benefits on behalf of youth in their custody. The bill outlines the responsibilities of the department, including the requirement to identify a representative payee, notify relevant parties about applications and communications regarding benefits, and ensure that a minimum percentage of benefits is conserved for the youth as they age.

Specifically, the department must ensure that beginning January 1, 2027, a minimum percentage of the youth's supplemental security income benefits is conserved, with specified percentages based on the youth's age. Additionally, starting July 1, 2027, the same conservation requirements apply to social security benefits, veterans benefits, and railroad retirement benefits. The bill emphasizes the importance of financial literacy training for youth, requiring the department to provide such training and support beginning at age fourteen.

The department is also required to provide annual accounting of how the youth's benefits have been used and conserved, and to file reports with the General Assembly regarding the number of youth entering care and the benefits they receive. The department must adopt rules and regulations to implement these provisions by October 1, 2026, and provide a report by January 1, 2028, discussing the conservation of benefits for all children under the department's care.

The act aims to create segregated savings accounts for foster care children receiving these benefits, ensuring that the funds are managed in a way that maintains the child's eligibility for future benefits while addressing their special needs. The act will take effect upon passage.