The plan’s IRAs will be managed by a private-sector financial firm overseen by a board chaired by the California State Treasurer.

The Illinois plan, also called Secure Choice, raises the employee threshold to 25 workers with enrollments projected to start in 2018 or 2019.

The DOL rule helping to expand the state offerings is seen by its supporters as essential because it protects the states and employers from ERISA enforcement actions.

The plans have often received support by Republicans in the states that have them. They  view the plans as a way of keeping down social service costs by making it possible for more retirees to pay for medical and other bills out of their own pockets.

In addition to overturning the DOL effort to expand the programs, the Rooney and Walberg legislation would prohibit future administrations from enacting the same rule.
 

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