Nullifies a Department of Labor rule regarding state payroll deduction savings plans.
This joint resolution nullifies a rule submitted by the Department of Labor’s Employee Benefits Security Administration regarding savings arrangements established by states for non-governmental employees.
(The rule describes circumstances in which state payroll deduction savings programs with automatic enrollment would not give rise to the establishment of employee pension benefit plans under the Employee Retirement Income Security Act of 1974 [ERISA]. It provides guidance to states designing the programs to reduce the risk of ERISA preemption of state laws and private-sector employers that may be covered by the state laws.)
Original sponsor: Rep. Walberg, Tim [R-MI-7]
Cosponsors: Rep. Rooney, Francis [R-FL-19], Rep. Foxx, Virginia [R-NC-5], Rep. Roe, David P. [R-TN-1], Rep. Sessions, Pete [R-TX-32], Rep. Messer, Luke [R-IN-6], Rep. Wilson, Joe [R-SC-2], Rep. Mitchell, Paul [R-MI-10]
Passed House: http://clerk.house.gov/evs/2017/roll096.xml
Related bill: SJRES 32 (Did not pass the Senate)