NAIFA applauds members of Congress' support to extend comment period for DOL fiduciary rules

May 7, 2015

In a letter to Department of Labor Secretary Thomas Perez, nine senators commented on the DOL’s proposed changes on who is a “fiduciary” of an employee benefit plan under ERISA. In the letter, the Democrats said that the proposed rule “has real implications on middle-class investors as well as those that assist them.” If allowed to move forward, the senators said, the rule “would have significant impacts on the retirement security of millions of Americans.” Eighteen Democrats in the H...