Bloomberg Law
June 1, 2018, 4:49 PM

California’s Voluntary Retirement Program Hit With Lawsuit

Madison Alder
Madison Alder

A California low-tax political group says the Golden State’s voluntary savings program for people who don’t already receive retirement benefits from their employer conflicts with federal law.

Howard Jarvis Taxpayers Association’s complaint against the California Secure Choice Retirement Savings Program and State Treasurer John Chiang alleges the CalSavers program is pre-empted by the Employee Retirement Income Security Act, or ERISA. The complaint was filed May 31 in the U.S. District Court for the Eastern District of California.

The CalSavers program is one of several “secure choice” programs to be enacted across the U.S. The programs require employers that don’t offer ...

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