House GOP Presses DOL’s Solis on Fiduciary Re-Proposal Rule
Fifty-five House Republicans, led by Rep. Judy Biggert, R-Ill., sent a letter to Department of Labor on Monday detailing what criteria should be met when the DOL re-proposes its rule amending the definition of fiduciary under ERISA early next year.
Rep. Barney Frank to Retire, Will Not Run in 2012
Rep. Barney Frank, D-Mass., ranking member on the House Financial Services Committee who co-authored the landmark Dodd-Frank financial reform legislation, announced Monday that he will not seek re-election in 2012 and plans to retire from Congress at the end of next year.
House Democrats to DOL: Fiduciary Reproposal Should Meet Certain Standards
More than 30 House Democrats sent a letter to Secretary of Labor Hilda Solis that not only thanked her for Phyllis Borzi’s decision to withdraw the DOL’s proposed rule redefining the term fiduciary, but also set out specific areas the new rule should address when it’s reproposed in early 2012.
Barney Frank to DOL: Revise Fiduciary Rule on Retirement Plans
Democratic Congressman writes Labor Secretary Solis, calling for her to “withdraw and repropose” fiduciary rule under ERISA; FPA and FSI voice approval
Fiduciary Rule Proposal Prompts Senator to Call Meeting With DOL
A day after lawmakers told the EBSA to repropose its controversial rule amending the definition of fiduciary under the Employee Retirement Income Security Act (ERISA), Sen. Kay Hagan, D-N.C., said Wednesday that her office plans to meet with both Borzi and Secretary of Labor Hilda Solis to discuss the fiduciary...
Social Security Trusts to Run Out in 2036, According to Report
The Social Security Board of Trustees released its annual report outlining Social Security's health, and Labor Secretary Solis and others were quick to offer their takes on the results.
The Hispanic Workforce Is Rising, but Lack of Education Still Holds These Workers Back
The 50 million Hispanics in the U.S. represent 15% of the American workforce, and the Hispanic small business sector is the country's fastest growing sector.
Day Before DOL, Putnam Unveils Its 401(k) Transparency Rules
Putnam Investments will offer transparent and comprehensive disclosure of fees and expenses to participants in the 401(k)plans it administers, the company announced Wednesday.
New 401(k) Fee and Conflict Disclosure Rule Issued by Labor Dept.
The U.S. Department of Labor (DOL) issued an interim final rule on disclosure of fees and conflicts of interest affecting 401(k) and other retirement plans on Thursday, July 15.