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Investment advice

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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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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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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Is your adviser truly protecting your retirement?

News Item

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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Should you take your pension as a lump sum?

Publication

Updated: August 2015

Some companies have offered to cash out the pensions of certain retirees and former employees and instead give them a one-time lump-sum payment.

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DOL moving forward on fiduciary rule

News Item

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

News Item

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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Lawmakers Ask DOL’s Perez to Extend Fiduciary Comment Period

News Item

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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