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Regulation

Ready or not, here comes the conflict-of-interest rule!

Blog entry

The fiduciary rule, a new Department of Labor regulation that took partial effect on June 9, 2017, requires investment advisers to provide advice that is in the best interests of their clients. The implementation of this common-sense regulation, also known as the conflict-of-interest rule, is a big win for investors.

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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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This is what we do: help people

Blog entry

My colleague Kyle often brings to my attention news articles that might merit a response from us. Sometimes the article contains a factual error. Sometimes we disagree with a statement in the article and write an opposing view in a letter to the editor. Sometimes we have additional information to add. 

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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

News Item

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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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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Teamsters Protest as Treasury Debates Allowing Pension Cuts for 1.5 Million Retirees

News Item

About 300 angry Teamsters descended on Washington, D.C., September 10, demanding federal action to protect the pensions of union members threatened with benefit cuts. The retired Teamsters are among a group of as many as 1.5 million retirees from a long list of different labor unions nationwide that could see their pensions slashed under a new law quietly approved late last year.

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Proposed pension cuts have Teamster retirees worried

News Item

Retired truck drivers and other retirees who draw a pension from an underfunded pension plan expect to find out early this fall how much their pension will be cut.

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