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 state-run retirement savings plans for private-sector workers:

Washington, D.C., (May 3, 2017) – “ACLI supports the resolution passed by the Senate, as well as the House, to disapprove a U.S. Labor Department (DOL) regulation allowing states to mandate that small employers auto-enroll their workers into state-based retirement plans. The regulation grants states 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.

“This vote wisely overturns the regulation. Congress’s action will help ensure that private-sector workers in state retirement plans receive the protections they deserve.”