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|Government Wields the Stick: DOL Guidance and State-Based IRA Programs|
Dec. 3, 2015
"The state plans have potential to scoop in employees who work for an employer that already sponsors a plan. The employee may not be covered by the plan because they are in a waiting period or because of some other good reason. An employer who has already established a plan might end up needing to comply with ERISA (for its own plan) and state law (for the state savings arrangement).... Employers with big multistate workforces would be well-served to monitor legislation in states like Illinois, California and Oregon to ensure appropriate legislation and administrative rulemaking."
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