governing
GOP Nixes Obama Retirement Rule

Another last-minute regulatory initiative by the Obama Administration has made its way into the dustbin. Investment News reports:

President Donald J. Trump on Thursday signed into law a resolution that nullifies Obama-era retirement rules meant to encourage cities and other municipalities to develop auto-IRA programs for private-sector workers.

The resolution, H.J. Res. 67, was passed by the Senate in late March and by the House in mid-February, largely along party lines, with Republicans in favor of overturning the rule.

The regulation, issued by the Department of Labor a month before Mr. Trump took office in January, was meant to ease liability concerns among cities when creating automatic-enrollment, payroll-deduction individual retirement account programs to be offered through the workplace.

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