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Analysis

ERISA Question May Kill States’ Retirement Savings Programs

Law360 (June 8, 2018, 9:59 PM EDT) -- Lawmakers in five states say their recently enacted auto-IRA programs, which funnel a portion of all private-sector workers' paychecks into individual retirement accounts unless they opt out, will extinguish their state's retirement-savings crisis — but will the programs buckle under accusations that they violate the Employee Retirement Income Security Act?

A California taxpayers' group suing the state says yes. The group, the Howard Jarvis Taxpayers Association, filed its suit over its auto-IRA program in federal court last month, saying state lawmakers never should have created CalSavers...
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