In the News

James Obermanns Quoted In Fortune Magazine Story on State-Mandated Retirement Plans

October 4, 2016

James D. Obermanns, Bloomfield Hills-based member in Dykema’s Labor & Employment Practice Group, was quoted in the Fortune Magazine article, “Why States Are Asking Small Business to Solve the Retirement Crisis.”

According to the article, Congress’ delay in implementing a federal retirement plan and the nation-wide savings shortfall has prompted some states to require that business owners offer employees the option of a state retirement savings program. These news laws have a major impact on small businesses because they employ most of the nation’s private-sector workers. Obermanns predicts the various state plans might cause administrative problems for multi-state companies.

To read the entire article, click here.