Trump Rolls Back DOL Rule For State Retirement Plans

Law360, New York (May 18, 2017, 7:08 PM EDT) -- President Donald Trump on Wednesday signed a resolution to repeal an Obama-era U.S. Department of Labor regulation that helped states establish government-run retirement accounts for private sector employees who don’t have access to employer-sponsored retirement plans.

The resolution signed by Trump, H.J. Res. 66, was passed earlier this month by the Senate in a 50-49 vote after having won approval in the House of Representatives in February, largely along party lines.

Trump’s action rolls back an August 2016 DOL rule that provides a safe harbor from...
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