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The Wall Street Journal: House votes to undo state retirement-plan rules

WASHINGTON — The House on Wednesday passed resolutions to overturn rules encouraging states to set up retirement savings plans for private-sector workers, threatening to eliminate a key element of an Obama administration initiative.

The measures would effectively prevent states and local governments from offering plans that allow small businesses to automatically enroll workers in individual retirement accounts.

The resolutions aim to repeal two regulations issued by the Labor Department last year that are meant to help states and cities develop savings vehicles for the tens of millions of people who don’t have access to employer-sponsored retirement plans. Such plans have been approved by eight states, including California, Illinois and Connecticut.

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