Nicholas Pension Consultants
Nova 401(k) Associates
Compensation Strategies Group, Ltd.
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|Obama's New Public Pension Option Rewrites ERISA for Liberal States|
The Wall Street Journal; subscription may be required
Nov. 30, 2015
"Even [the DOL] admits that its ERISA exemption is dubious. Under a 1975 Labor rule, employee benefit plans are exempt from ERISA only if they are 'completely voluntary.' ... [DOL] is overturning its own precedent on the conceit that a state government that sets 'the terms for and administers a payroll deduction savings arrangement ... is far different than when the employer' does. Yet the Supreme Court, as Labor notes, has concluded that ERISA pre-empts state laws that 'mandate employee benefit structures or their administration.' "
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