Federal Legislation & Regulations

Unlike private sector pensions that are preempted from State and local laws and subject solely to federal regulation, state and local retirement systems are creatures of state constitutional, statutory and case law and must comply with a vast landscape of public statutes, regulations, standards, policies and procedures.

For this reason, many of the federal requirements for corporate pensions are not applicable to plans of state and local government. However, public plans must still comply with various Federal tax qualification, investment, age discrimination and other requirements. Congress sets the federal laws in these areas, and various federal agencies issue and enforce the corresponding regulations. 

Key Congressional Committees and Federal Agencies