Department of Labor
AARP top lobbyist David Certner
“We expect the Department of Labor to send a reproposed fiduciary rule to the White House’s Office of Management and Budget for clearance, and that will once again ignite a battle over whether advisors should be permitted to give advice not in the best interests of their clients.”
IRI’s Weatherford
“The DOL will release a new fiduciary rule, either following the approach used during 2010 or a new approach that will avoid the unintended consequences of millions of Americans losing access to help in preparing for retirement and losing access to employer provided retirement plans.
“The DOL will also adopt a rule providing workers with much greater access to guaranteed lifetime income products in retirement plans that provide income workers can't outlive.
“DOL will adopt a rule that will provide workers with helpful illustrations of how their savings will translate into monthly income payments during retirement.”
EBRI’s Salisbury
“DOL will publish a revised 'conflict of interest standard' that will be tighter than the current multi-part rules and will take actions to allow myRA as a route to state approaches to expanding worker access to payroll deductions into retirement accounts without being deemed "an employee benefit plan' for ERISA purposes.”
NAIFA’s lobbyist Judi Carsrud
“We predict that the Department of Labor will release a re-proposal of a rule that would redefine who is a fiduciary when offering education, advice and services to retirement savers.
“We remain confident that Congress will exercise its oversight authority if the rule is detrimental to a disparate class of retirement savers.”