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Department of Labor

Color of Money Live Chat with Michelle Singletary

News Item

PRC's Karen Friedman and Joellen Leavelle discussed an array of retirement issues during Michelle Singletary’s Color of Money Live Chat on February 16, 2107.

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Pension Rights Center Applauds Release of Rule Protecting Investors from Conflicted Investment Advice

News Release

WASHINGTON – The Pension Rights Center applauds the U.S. Department of Labor for finalizing an important regulation to help ensure that financial advisers and brokers who give advice on investments in 401(k) plans and IRAs do so in the best interests of their clients.

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A big step forward for state-based initiatives

Blog entry

For the past 15 years, one of the Center’s top priorities has been to find innovative ways of finishing the formidable task of expanding pensions and retirement savings for the about 50 percent of the workforce – 70 million Americans – who are not currently participating in an employer-sponsored retirement savings or pension plan.

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Lawmakers Announce Principles for Bill As Alternative to DOL Fiduciary Rule

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A bipartisan group of House lawmakers teamed to release a set of "best interest" principles to form the basis of financial education and advice legislation they are developing to counter the Department of Labor’s proposed fiduciary rule.

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The fight to protect savers from bad financial advice heats up

Blog entry

The U.S. Department of Labor’s effort to update its fiduciary rules – rules that protect Americans trying to save for retirement – has reached yet another new level.

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Proposed Rule on Conflicts of Interest in Investment Advice (November 2015)

Regulations

The Pension Rights Center submitted comments to the Department of Labor (DOL) and testified at a hearing in support of the department’s proposed revision of the definition of “fiduciary.” The proposed definition describes the circumstances under which a financial adviser becomes a fiduciary and must give advice in the best interest of the customer, avoiding all conflicts of interest unless they are expressly allowed.

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PRC Praises Labor Department for New Rules for Economically Targeted Investments

News Release

WASHINGTON – U.S. Secretary of Labor Tom Perez announced today new guidance for economically targeted investments (ETIs) in retirement plans.

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Labor Department’s Fiduciary Proposal: Key Provisions to Watch

News Item

The battle over the U.S. Labor Department’s proposal to require financial advisers to put retirement investors’ interests ahead of their own has been fierce, with financial advisers, investor advocates and many financial-services companies watching every twist and turn in this multiyear saga.

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Save Our Retirement Coalition response to letter sent to Secretary Perez on the fiduciary rule

News Release

The Pension Rights Center, as part of the Save Our Retirement Coalition, issued a statement in reaction to a letter sent to Labor Secretary Tom Perez by several members of Congress regarding the Department's proposed fiduciary rule.

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Impassioned Voices Ring Loudly at Benefits Suspension Hearing Savings

News Item

When crafting final regulations on suspending benefits under multiemployer pension plans, the IRS and Treasury Department should use the "maximum limits" of their authority to write rules that follow the law but are as fair as possible to workers and retirees, speakers said during an IRS hearing.

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