A new report from the Government Accountability Office suggests Congressional action combined with regulatory revisions from the Department of Labor are needed to help states implement savings programs for private-sector workers who lack access to workplace retirement plans.
The agency’s one-year study was conducted at the behest of Sen. Patty Murray, D-Washington, the ranking member on the Senate Committee on Health, Education, Labor and Pensions.
“We agree that DOL should review and revise existing regulations and guidance to accomplish all that can be done administratively to facilitate state efforts to expand coverage,” wrote the agency in its conclusions.
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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.
