Washington, D.C., May 12, 2025 – The ERISA Industry Committee (ERIC) today submitted recommendations to The Office of Management and Budget (OMB) in response to its “Request for Information: Deregulation.” This Request for Information (RFI) from OMB asks for submissions to identify, “regulations that stifle American businesses and American ingenuity.” A statement regarding the RFI can be found below and is attributable to ERIC President and CEO James Gelfand.
“When you ask employers how regulations affect their companies, you’ll likely get an earful about outdated and burdensome rules where compliance costs far outweigh benefits. ERIC member companies provide health and retirement benefits to tens of millions of Americans and see firsthand how one-size-fits-all regulations can cost time and money better spent serving their workers. ERIC appreciates the opportunity to offer insights into how to reduce antiquated or onerous regulations and simplify compliance in the workplace. We are committed to working with the Trump Administration to improve outcomes for workers and retirees while reducing barriers and costs.”
The full text of the letter can be found here.