If your New Jersey business doesn’t sponsor a retirement savings program, it’s time for you to create a system allowing workers to sock away retirement money through automatic payroll deductions. Thanks to the New Jersey...more
On March 28, 2024, Washington State’s Governor, Jay Inslee, signed into law a bill that creates a new state-run retirement program called “Washington Saves.” Under the program, “covered employers” must give “covered...more
In response to what many financial experts consider a retirement savings crisis, the State of Connecticut enacted legislation in 2016 creating the Connecticut Retirement Security Authority (CRSA). The CRSA was tasked with...more
New York Governor Kathy Hochul has signed into law a bill that will require certain private employers in the state to automatically enroll their employees in a state-administered retirement savings plan if the employer does...more
On May 15, 2020, the National Commission of the Retirement Savings System (CONSAR) published in the Federal Official Gazette, the amendments and additions to the General Provisions regarding the Operations of the Retirement...more
As Congress and the Department of Labor (DOL) still keep the status of open multiple employer plans in legal limbo, individual states are still going ahead with state-run programs....more
Last week, (by their constitutional June 15 deadline) the California Legislature passed and sent to the Governor a $184.5 billion budget for fiscal year 2017-18. Most of the media attention focused on tobacco tax...more
In yet another move to roll-back regulatory guidance issued during the Obama administration, earlier this month the U.S. Senate voted to revoke a final rule and associated interpretive guidance that the Department of Labor...more
It’s been about 4 months since Phyllis Borzi left her position as the head of the Employee Benefit Security Administration (EBSA) and as time passes by, we can certainly opine on her accomplishments in that position. Of...more
In 2015, Oregon passed legislation creating a state-based retirement savings program that has since been named “OregonSaves.” Implementation of the OregonSaves program was delayed pending the issuance of final rules by the...more
On April 18, 2017, the Oregon Retirement Savings Board adopted final rules to implement the Oregon Retirement Savings Program (known as “OregonSaves”) codified at 170-090-0001 et seq. OregonSaves establishes a...more
Institutional investors are under significant pressure to maximise returns. To that end they have focused on reducing fees and consolidating their portfolios according to the best ideas of their best managers. A few...more
Each New Year typically brings a slew of new laws that affect employers – and 2017 is no exception. Many of these new laws took effect on Jan. 1, so employers must now be in compliance. If not, you must take immediate steps...more
California Legislative Update - In the latter half of 2016, California Governor Jerry Brown signed numerous bills into law. Below is a summary of those laws that will affect California employers in 2017 and beyond. ...more
Bathrooms, Retirement Plans Among New Laws, Partner Brian Reider Writes in the Press-Enterprise - As we wind up this year and look back on the election, legislation passed in California and recent court decisions, there...more
Workers in some states will soon have another option to save for retirement. California is the latest state to pass a law that establishes state-run retirement plans for workers who do not have a plan through their employer....more