Illinois, Oregon Back California Retirement Program in 9th Cir.

Oct. 21, 2020, 4:55 PM

California’s new auto-retirement program is a “tremendous success with no discernible downside,” allowing workers to save for retirement with little cost to employers and lessening the burden on social safety net programs, attorneys general for Illinois and Oregon said in a brief urging the Ninth Circuit to uphold the California program from an ERISA challenge.

Illinois and Oregon, which have adopted programs similar to the CalSavers Retirement Savings Program, asked the Ninth Circuit to reject a tax policy advocacy group’s lawsuit claiming CalSavers is preempted by the federal Employee Retirement Income Security Act. The states’ amicus brief, filed Tuesday, ...

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