ERIC sues Oregon over state-mandated retirement plans
An ERISA committee is asking a federal court to scrub a provision of the Oregon Saves program that requires employers already offering a qualified retirement plan to file for a certificate of exemption from the state.
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The ERISA Industry Committee, a trade association that represents the interests of large employers that sponsor retirement and health plans, is suing Oregon’s treasurer over a reporting requirement under the state’s newly minted mandatory retirement plan.
The Oregon Saves program will ultimately require all employers in the Beaver State to either offer a workplace retirement savings plan, or automatically enroll workers in a state-administered IRA.
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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.
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