Trump Signs Resolution Reversing DOL Rule on City-Run Private Retirement Plans

President Trump has signed a Congressional Resolution reversing a Department of Labor (DOL) rule allowing cities and municipalities to set up retirement plans for private businesses exempt from the rules of the Employment Retirement Income Security Act (ERISA). The resolution was carried out through the Congressional Review Act (CRA). A second resolution overturning a similar DOL rule allowing states to set up private retirement plans has passed the House of Representatives and awaits Senate action when it reconvenes after the spring break.