A resolution of disapproval to roll back an Obama-era Labor Department safe harbor for state-run retirement plans narrowly passed in the Senate today.
It is expected to be signed into law by President Trump.
The measure passed by a 50 to 49 margin, with two Republicans, Sen. Bob Corker of Tennessee and Sen. Todd Young of Indiana, defecting from their party and voting with Democrats, who uniformly opposed the resolution.
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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.
