Rollback of Obama-era Labor Department rule muddies PA plans to develop private retirement security plans

Rollback of Obama-era Labor Department rule muddies PA plans to develop private retirement security plans

Just this past Wednesday, the US Senate voted 50-49 to roll back an Obama-era Department of Labor rule that allows cities and counties to develop retirement security plans for private-sector employees not already benefiting from an employer-run plan.

 

A similar rollback of a rule allowing states to develop these plans has not yet been subjected to a vote in the Senate, though it has passed the US House of Representatives overwhelmingly and could be voted on at any time.

Friday, March 31, 2017/Author: Jason Gottesman
New legislation aims to address “Silver Tsunami”

New legislation aims to address “Silver Tsunami”

Looking address the so-called “Silver Tsunami” of people retiring without the savings or revenue to meet expenditures, Representatives Mike Hanna (D-Clinton) and Mike Driscoll (D-Philadelphia) are introducing legislation to bridge the gap for Pennsylvanians who do not have employer-sponsored retirement plans.

 

The proposal—still in co-sponsorship memo form—would form the Keystone Retirement Security Program to allow for automatic payroll deductions for Pennsylvanians who elect to participate in the program.

Monday, September 12, 2016/Author: Jason Gottesman
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