ACLI President & CEO Dirk Kempthorne issued the following statement on the Senate vote to disapprove a regulation issued by the U.S. Department of Labor on municipal-run retirement savings plans for private-sector workers:

Washington, D.C., (March 30, 2017) – “ACLI supports the resolution passed by the Senate, as well as the House, to disapprove a U.S. Labor Department (DOL) regulation allowing cities to mandate that small employers auto-enroll their workers into city-based retirement plans. The regulation grants cities an exemption from the Employee Retirement Income Security Act of 1974 (ERISA), stripping basic consumer protections that private retirement plans have offered for more than 40 years. The regulation puts private marketplace plans at a disadvantage. This vote wisely overturns the regulation. Congress’s action will help ensure that private-sector workers in city retirement plans receive the protections they deserve.”