ERIC’s Statement on Passage of Joint Resolutions of Disapproval on State and Local Retirement Plans

February 15, 2017

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CONTACT:
Kelly Broadway, 202.627.1918, kbroadway@eric.org

For Immediate Release

ERIC's Statement on the Passage of Joint Resolutions of Disapproval on State and Local Retirement Plans

Washington, DC  – The following statement should be attributed to Annette Guarisco Fildes, president and CEO, The ERISA Industry Committee (ERIC):

“The ERISA Industry Committee (ERIC) is pleased the House passed resolutions repealing the Department of Labor rules that have allowed state and local governments to enact mandatory retirement plans. While ERIC’s membership of solely large employers supports policies that increase access to retirement plans, we believe that the Labor Department rules were overly broad. The rules inappropriately allowed states and localities to impose requirements on employers already offering retirement plans.  Mandatory state or local retirement plans should focus solely on employers who do not provide a retirement plan and explicitly not apply to employers who provide a plan subject to federal rules. Imposing restrictions on large employers offering retirement plans will only chill their commitment to offering a quality retirement plan.  We hope for swift passage in the United States Senate.”

About the ERISA Industry Committee
The ERISA Industry Committee (ERIC) is the only national association that advocates exclusively for large employers on health, retirement, and compensation public policies at the state, federal, and local levels. Learn more at eric.org.