On Sept. 27, 2016, the American Retirement Association Government Affairs Committee (ARA GAC) filed a comment letter in response to a proposed regulation promulgated by the Department of Labor that would expand the non-ERISA safe harbor to payroll deduction savings arrangements mandated by the laws of certain political subdivisions within a state.
ARA GAC recommended against expanding the safe harbor because of the complexity that would result if political subdivisions were included. ARA GAC recommended that time be given for states to move forward under the recently finalized regulation that accorded the safe harbor to certain state mandated programs.
ARA GAC recommended against expanding the safe harbor because of the complexity that would result if political subdivisions were included. ARA GAC recommended that time be given for states to move forward under the recently finalized regulation that accorded the safe harbor to certain state mandated programs.
- Log in to post comments