Disapproving the rule submitted by the Department of Labor relating to savings arrangements established by…

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

This joint resolution nullifies a rule submitted by the Department of Labor's Employee Benefits Security Administration regarding savings arrangements established by qualified state political subdivisions for non-governmental employees.

(The rule amends a final regulation that describes how states may design and operate payroll deduction savings programs for private-sector employees, including programs that use automatic enrollment, without causing the states or private-sector employers to have established employee pension benefit plans under the Employee Retirement Income Security Act of 1974 [ERISA]. The amendment expands the regulation beyond states to cover qualified state political subdivisions and their programs that otherwise comply with the regulation.)

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov