Labor Department Issues Fiduciary Rule Protecting Retirees
WASHINGTON, D.C. – The Department of Labor today released a final fiduciary rule, known as the Retirement Security Rule, protecting retirement investors from conflicts of interest that could lead to inappropriate investment advice that isn’t in the interest of retirees. Bartlett Naylor, financial policy advocate with Public Citizen, issued the following statement:
“Investment firms can no longer sneak a fatter commission out of a critical retirement plan that may leave Americans short on their investment goals. As part of the Biden administration’s fight against junk fees, the DOL protections are obvious and needed.”