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Fiduciary

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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Is your adviser truly protecting your retirement?

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There’s a discussion going on that is vital to the retirement money you’ve worked so hard to save. The Labor Department, directed by the Obama administration, is proposing that more advisers, when giving retirement investment advice, put their clients’ best interests first.

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Financial advisers should all play by the same rules

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Thousands of Registered Investment Advisers already abide by a fiduciary standard when giving advice under the federal Investment Advisers Act. But brokers and insurance agents aren't held to this standard, even though they might use "investment advisor" on their business cards.

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DOL moving forward on fiduciary rule

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Labor Department officials are determined to produce a new standard of fiduciary duty for anyone giving retirement investment advice, once they process concerns raised in thousands of comment letters and four days of hearings on their proposal.

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Speakers encourage fiduciary role for advice on DC lump sums, IRA rollovers

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People giving advice to defined contribution plan participants about lump-sum distributions and rollovers to individual retirement accounts should be covered by a new fiduciary standard, several speakers said Wednesday at a Department of Labor hearing on the proposed rule.

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Supreme Court Decision in Tibble a Victory for 401(k) Participants

News Release

WASHINGTON – On May 18, the U.S. Supreme Court ruled in favor of employees in Tibble v. Edison International, a class-action lawsuit filed by participants in the power company’s 401(k) plan.

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Supreme Court decision should help lower 401(k) fees

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In a decision that should put further downward pressure on 401(k) fees, the Supreme Court ruled unanimously Monday that the trustees in charge of such plans have an ongoing duty to monitor plan investments.

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More GOP Senators Press DOL to Extend Fiduciary Comment Period

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Lawmakers on both sides of the aisle continue to pressure the Department of Labor to extend the comment period on its revised plan to amend the definition of fiduciary for retirement accounts.

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Lawmakers Ask DOL’s Perez to Extend Fiduciary Comment Period

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Lawmakers asked Labor Secretary Thomas Perez in two separate letters this week to extend by another 45 days the comment period on the Department’s redraft of its rule to amend the definition of fiduciary under the Employee Retirement Income Security Act.

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Split with White House widens as Democratic lawmakers ask DOL to extend comment deadline on fiduciary rule

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More than two dozen Democratic lawmakers are asking the Labor Department to extend the comment period on a controversial rule that would raise investment advice standards for brokers working with retirement accounts.

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