Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Compass
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
The DOL Fiduciary Rule: How a Flawed Process Could Hurt Retirement Savers
Majority Staff of the Committee on Homeland Security and Governmental Affairs, U.S. Senate Feb. 24, 2016
40 pages. "[1] Despite public assurances that the [DOL] had collaborated with the SEC, emails between a [DOL] employee and an SEC expert reveal discord between the agencies about the rulemaking.... [1] Career, non-partisan SEC staff identified at least 26 items of concern related to the substantive content of the proposed rule, and the [DOL] declined to fully resolve all of the concerns ... [3] The [DOL] rejected the SEC's recommendation and ignored the requirements of Executive Orders 12866 and 13563 to quantify the costs and benefits of alternative approaches.... [4] Treasury officials voiced concerns that the [DOL] 's proposal, by attempting to regulate IRAs through the proposed rule, 'fl[ies] in the face of logic' and was contrary to Congressional intent.... [6] The Administration was predetermined to regulate the industry and sought evidence to justify its preferred action."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |