Employee Benefits Security Administration December 20, 2016 – Federal Register Recent Federal Regulation Documents

Savings Arrangements Established by Qualified State Political Subdivisions for Non-Governmental Employees
Document Number: 2016-30069
Type: Rule
Date: 2016-12-20
Agency: Employee Benefits Security Administration, Department of Labor
This document contains an amendment to a final regulation that describes how states may design and operate payroll deduction savings programs for private-sector employees, including programs that use automatic enrollment, without causing the states or private-sector employers to have established employee pension benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). The amendment expands the final regulation beyond states to cover qualified state political subdivisions and their programs that otherwise comply with the regulation. This final rule affects individuals and employers subject to such programs.