The Department of Labor has sent proposed rules that would make it easier for states to mandate enrollment in retirement savings plans for workers without access to programs in the private sector.
The Office of Management and Budget noted it received the rule, titled "Savings Arrangements Established by States for Non-Governmental Employees," but the content of the rule has yet to be posted.
In July, President Obama announced he was instructing Labor to issue guidance for states that want to mandate small employers enroll workers in IRAs.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
