ERIC’s COVID-19 Advocacy Efforts
Legislative Efforts
ERIC Works with Congress to Provide Retirement Security for Employees and Retirees, During and After COVID-19
In a statement sent to the U.S. Senate Subcommittee on Social Security, Pensions, and Family Policy ahead of today’s hearing “Investigating Challenges to American Retirement Security, ERIC asked for COVID relief policies and support of Chairman Portman and Senator Cardin on “The Retirement Security and Savings Act” (S. 1431). ERIC also recommended several long-term policies that would further support workers and retirees. For more information, click here.
ERIC’s “Phase 4” COVID Response Health Legislative Priorities
As lawmakers continue to work through legislation to respond to the COVID-19 crisis, ERIC is working to ensure patients who need care receive it, barriers to telehealth are removed, employers and employees are given flexibility with their benefits, and more.
Click here to learn more about ERIC’s health care priorities.
ERIC’s “Phase 4” COVID Response Retirement and Compensation Legislative Priorities
ERIC has been working with lawmakers to protect retirement benefits and employers’ ability to offer paid leave. Our priorities include:
- Maintaining the 500 employee or less threshold for paid leave
- Suspension of matching contributions in safe harbor plans
- Additional funding assistance for defined benefit plan sponsors
- Relief from single-employer PBGC premiums
Click here to learn more about ERIC’s retirement and compensation priorities.
Regulatory Efforts
Click here for a full list of ERIC’s regulatory requests and wins.
ERIC Requests Guidance From the Tri-Agencies on COVID-19 Employee Benefits Issues
On Monday, April 6, ERIC submitted a letter to the U.S. Department of Labor, U.S. Department of Health and Human Services, and the U.S. Department of Treasury asking for guidance on specific employee benefits issues related to COVID-19. The letter urged the Departments to work both individually and together on guidance that would give flexibility to employers at this critical time, and enable them to help their employees through their benefit plans.
Click here to read ERIC’s letter.
ERIC Asks PBGC to Provide Relief in Response to COVID-19
Also, on Monday, April 6, ERIC requested that the Pension Budget Guaranty Corporation (PBGC) provide relief from premium payments and extend filing deadlines in the context of significant business challenges resulting from the COVID-19 outbreak. ERIC stated the measures are necessary to help employers wage their own war against COVID-19 for the benefit of their employees, customers, and stakeholders.
Click here to read ERIC’s letter.
ERIC’s Advocacy Efforts in the States
In response to the COVID-19 crisis, state lawmakers have begun to enact and consider measures aimed to further aid workers in their states. ERIC is working with our state partners to push back on the more burdensome aspects of these state proposals and draw attention to the adverse effects that the patchwork of state laws has had on employers and employees.
ERIC and our large employer member companies are also advocating to improve telehealth for patients by allowing doctors from any state to treat patients no matter their location, as well as eliminate other burdensome state rules.
Click here to learn more about ERIC’s advocacy at the state and local levels.