The safe harbors for state- and municipal-sponsored retirement plans finalized last year by the Labor Department are now in the crosshairs of Republican lawmakers.
Today, two resolutions of disapproval were introduced by Rep. Tim Walberg, R-MI, chair of the House subcommittee on Health, Employment, Labor, and Pensions, and Rep. Francis Rooney, R-FL, also a member of the subcommittee.
One resolution would block the safe harbor for state-run plans, which was published in the Federal Register on August 30, 2016, and the other would block the safe harbor for retirement plans sponsored by qualified municipalities, which was published in the register on December 20, 2016.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
