Nullifies a rule of the Department of Labor regarding savings arrangements established by states for non-governmental employees.
This joint resolution nullifies a rule submitted by the Department of Labor’s Employee Benefits Security Administration regarding savings arrangements established by qualified state political subdivisions for non-governmental employees.
(The rule amends a final regulation that describes how states may design and operate payroll deduction savings programs for private-sector employees, including programs that use automatic enrollment, without causing the states or private-sector employers to have established employee pension benefit plans under the Employee Retirement Income Security Act of 1974 [ERISA]. The amendment expands the regulation beyond states to cover qualified state political subdivisions and their programs that otherwise comply with the regulation.)
Original sponsor: Rep. Rooney, Francis [R-FL-19]
Cosponsors: Rep. Walberg, Tim [R-MI-7], 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/roll095.xml
Related bill: SJRES 33 (Did not pass Senate)