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

For Immediate Release

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.”

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All media inquiries to The ERISA Industry Committee should be directed to:

Kelly Broadway, 202.627.1918, kbroadway@eric.org

About the ERISA Industry Committee
ERIC helps America’s largest employers stay ahead of employee benefit policy. ERIC member companies are leaders in every sector of the economy, and we represent them in their capacity as sponsors of employee benefit plans for their own workforce. Only ERIC provides the combination of intel, expertise, collaboration, and lobbying that exclusively serves the interests of large employers who provide health, retirement, and compensation benefits to their nationwide workforce.