Employers, Ore. Strike Deal On Retirement Plan Reporting

Law360 (March 29, 2018, 5:10 PM EDT) -- An association of large employers settled their suit against the head of the Oregon Retirement Savings Board that alleged a state retirement program's reporting requirements were preempted by federal law, agreeing to a system for handling how companies will confirm that they are exempt.

The ERISA Industry Committee, or ERIC, took issue with the state-run retirement plan program OregonSaves, which required employers to periodically file a certificate of exemption if they offered a retirement plan that let them out of the program. The October complaint against State Treasurer Tobias Read said Oregon can't require employers to report plan activities as that...

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