Hill Republicans, Democrats Whipsaw DOL Fiduciary Re-Proposal
The Department of Labor (DOL) intends to finalize its fiduciary re-proposal, possibly by year-end or in early 2016.
Browsing: Retirement issues
ABA: Fiduciary Rule Would Harm Retirement Savers DoL Seeks to Protect
The Department of Labor’s controversial proposed rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act covers far more services and customer interactions than is necessary, Northern Trust SVP Gerald Cleary said in testimony before DoL today.
ABA: Fiduciary Proposal Overreaches, Would Disrupt Retirement Market
The Department of Labor’s proposal to redefine who counts as a fiduciary under the Employee Retirement Income Security Act overreaches, capturing many people who should not be reasonably considered fiduciaries under ERISA or the Internal Revenue Code, ABA said in a comment letter today.
Fed Survey Finds Increasing Economic Optimism
Four in 10 U.S. households surveyed last fall said they were somewhat or much better off financially than they had been five years prior, according to the Federal Reserve’s 2014 Survey of Household Economics and Decisionmaking released today. Just over a quarter said they were worse off than in 2009.
ABA Seeks Longer Comment Period, Briefing on Fiduciary Rule
ABA yesterday repeated its call for the Department of Labor to extend the comment period for its rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act.
ABA, Business Groups Support Deferred Taxes on Retirement Savings
As the Senate Finance Committee solicits feedback on comprehensive tax reform, ABA and several other business trade groups yesterday urged the committee not to change the tax treatment of employer-sponsored retirement plans and individual savings vehicles like IRAs.
Labor Department Proposes More Expansive Fiduciary Definition
The Department of Labor today re-proposed a rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act.