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PSCA Executive Reports

March 03, 2017

State Retirement Initiatives

On February 15, the House passed two resolutions – H.J. Res. 66 and H.J. Res. 67 – that would overturn two Department of Labor (“DOL”) regulations addressing the application of ERISA to state-facilitated automatic payroll deduction IRAs.  The vote in the House was largely along party lines.  It is possible that the Senate will take up the resolutions as early as the week of March 6.  If Congress succeeds in overturning the DOL regulations, states (e.g., California, Connecticut, Illinois, Maryland, and Oregon) could still move forward with implementing their programs, but they would have less certainty that the programs are not preempted by ERISA. 

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