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Pension Rights Center Applauds Labor Department’s Release of Proposed Rule on Conflicted Investment Advice to OMB

News Release

Washington – In a long-awaited move towards protecting millions of workers and retirees by stopping conflicted financial advice in retirement savings plans, the U.S. Department of Labor (DOL) today sent a proposed fiduciary regulation to the Office of Management and Budget (OMB), which now has up to 90 days to review the rule.

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Public Interest Organizations Join Forces to Protect Americans’ Retirement Savings

News Release

SaveOurRetirement.org will educate workers and retirees about the “Retirement Advice Loophole” – and mobilize public support to close it

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Financial planning issues wrapped into government spending bill?

News Item

Members of Congress are considering adding provisions to the government spending bill that would impact at least two crucial issues for financial advisers: the DOL's action on fiduciary duty and the right of pensions to cut benefits.

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The Most Important Symbol for Investors Is 'DOL'

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Many investors are glued the financial news, tracking the latest reports about interest rates, earnings reports and stock movements. They believe this kind of intense focus will help them maximize returns. They couldn't be more wrong.

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Senators’ De-Risking Letter Adds Weight To Growing Issue, Concerns, Observers Say

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A recent letter sent by two Senate Democratic committee leaders asking several federal agencies to develop regulatory policy on de-risking pension plans adds some heft to the issue, but there are already some regulatory provisions in the law addressing their concerns, practitioners said.

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PBGC Proposal to Track De-Risking Plans Seen by Pension Rights Center as Good Step

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The Pension Benefit Guaranty Corporation’s recent request for comments on a proposal to require companies making pension risk-transfer offers to their employees to report such offers to the PBGC is aimed at helping the agency determine its future liabilities, but the information may also prove useful for the public, a spokeswoman for the Pension Rights Center told Bloomberg BNA.

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Broad-Based Coalition Pushes For Updates To Retirement-Plan Advice

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A broad-based coalition of labor unions and consumer protection groups has reiterated its support for the U.S. Department of Labor (DOL) to update, strengthen and clarify rules around advice provided to workers saving through retirement plans.

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Speakers Tell Council DOL Guidance Needed To Boost Savers’ Lifetime Income Options

News Item

A combination of guidance and online tools from the DOL on lifetime income would help retirement plan participants make good decisions about their retirement funds and investments, a speaker told the ERISA Advisory Council.

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Practitioners Say QLAC Rules Widen Choices, But Plans May Be Reluctant to Offer Them

News Item

Recent final rules on qualifying longevity annuity contracts (QLACs)—which can help retirees ensure they have a stream of regular income through their advanced years—received praise from retirement insiders, but the new guidance doesn't guarantee that the products will be embraced, practitioners told Bloomberg BNA in a series of interviews.

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Treasury, IRS Modify Tax Code Rules To Expand Access to Retirement Annuities

News Item

The federal government helped broaden the choices for those shopping for lifetime income options in retirement by modifying the required minimum distribution rules for various types of plans in newly released final regulations on qualifying longevity annuity contracts.

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