Voya says DOL contradicts itself with state-run safe harbor
January 21, 2016 by Nick Thornton
The comment period for the Department of Labor’s proposed safe harbor that intends to make it easier for state’s to mandate participation in retirement plans closed Tuesday.
That proposed safe harbor says mandatory state-run programs would not be subject to the Employee Retirement Income Security Act.
Under the proposed safe harbor, states would not be permitted to mandate employer contributions, and employees must have the option to opt out of the plan after being automatically enrolled.
Originally Posted at LifeHealthPro on January 20, 2016 by Nick Thornton.
Categories: Industry Articles
