Dear Representative:
The AFL-CIO urges you to oppose H.J. Res. 66 and H.J. Res. 67. These resolutions of disapproval block Department of Labor (DoL) regulations that create safe harbors under which certain retirement savings arrangements established by states or eligible political subdivisions for private-sector workers will not be considered ERISA-covered employee benefit plans.
While the vast majority of union members who work in the private sector benefit from collectively bargained pensions and retirement savings plans, over 38 million private-sector workers are not offered any kind of plan at work. The DoL regulations provide a path forward for states and municipalities to create an easier way for these Americans to begin building a retirement nest egg through payroll deduction contributions into their own Individual Retirement Account (IRA). A vote to rescind these regulations is a vote to ensure that these Americans will remain financially vulnerable in retirement.
Thank you for your consideration of our views.
Sincerely,
William Samuel, Director
Government Affairs Department