The Senate Committee on Health, Education, Labor and Pensions (HELP) advanced two important Labor Department nominations Wednesday — Preston Rutledge to be assistant secretary of Labor for the Employee Benefits Security Administration, and Kate O’Scannlain to serve as Labor’s solicitor.
If confirmed, Rutledge will be instrumental in shepherding through any change that Labor makes to its fiduciary rule.
Rutledge currently serves as senior tax and benefits counsel for Senate Finance Committee Chairman Orrin Hatch, R-Utah, and was nominated to be EBSA head by President Donald Trump on Oct. 13.
Both Rutledge and O’Scannlain’s nominations passed the HELP Committee by voice vote. Their nominations now advance to the full Senate.
“We are excited about the prospect and are looking forward to working with Preston to develop and put in place policies which will help to expand access to workplace retirement plans, increase retirement savings, and boost the utilization of lifetime income products,” said IRI Senior Vice President and General Counsel Lee Covington.
IRI said that it “strongly urged” the Senate to act quickly to confirm him.