APA is watching mandated state retirement savings program developments closely. APA's subcommittee is part of a group, State Retirement Plan Administrators Work Group, established through the National Payroll Reporting Consortium, to help states develop retirement plans. These plans are for employees who work at places that either do not offer retirement programs or are ineligible to participate in their employer-sponsored program. In addition, APA comments on any federal proposed legislation and regulations regarding retirement planning that impact payroll professionals.
On December 22, APA's subcommittee filed comments on the Proposed Rules for the Oregon Retirement Savings Plan.
On September 26, APA's subcommittee filed comments on a U.S. Department of Labor proposed rulemaking potentially adding an Employer Retirement Income Security Act of 1974 (ERISA) safe harbor for state political subdivision savings programs.
If you would like to participate in this subcommittee, please contact Alice P. Jacobsohn, Esq., Senior Manager of Government Relations, via email at [email protected] or by phone at 202-248-3901.