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H.J.Res. 66: Disapproving the rule submitted by the Department of Labor relating to savings arrangements established by States for non-governmental employees.

May 3, 2017 at 5:11 p.m. ET. On the Joint Resolution in the Senate.

This was a vote to agree to H.J.Res. 66 (115th) in the Senate.

H.J.Res. 66 disapproves and nullifies the rule issued by the Department of Labor on August 30, 2016, establishing a “safe harbor” from the Employee Retirement Income Security Act for government-run IRAs managed by states for private sector workers.

Under the final rule, states will not have to comply with the fiduciary oversight and other protections of ERISA that ensure that workers’ savings are available to provide a secure retirement. In addition, the rule will result in overlapping and inconsistent requirements for employers operating in multiple states, disregarding ERISA’s statutory preemption of state laws affecting employee benefit plans.

Source: Republican Policy Committee

Totals

All Votes R D I
Yea 51%
 
 
 
50
50
 
0
 
0
 
Nay 49%
 
 
 
49
2
 
45
 
2
 
Not Voting
 
 
 
1
0
 
1
 
0
 

Joint Resolution Passed. Simple Majority Required. Source: senate.gov.

The Yea votes represented 43% of the country’s population by apportioning each state’s population to its voting senators.

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