Bill Looks to Exempt Multiemployer Unions from Auto-Enrollment

Multiemployer unions would be exempted from requirements for automatic enrollment in new retirement plans under a bill backed by a bipartisan group of lawmakers.

Sens. Amy Klobuchar (D-Minn.) and Bernie Moreno (R-Ohio) joined four House members to introduce the Multiemployer Plan Relief Act, which would offer exemptions from the automatic enrollment requirement in the SECURE 2.0 Act. It would expand an exemption already offered for governmental and church plans.

The lawmakers said multiemployer unions provide retirement plans to workers in construction, trucking and other industries where workers commonly have more than one employer. When workers are automatically enrolled in ...