New Bills in House and Senate Would Effectively Repeal DOL’s New Fiduciary Rule Under ERISA
June 13, 2017
Rep. Phil Roe (R-TN) introduced the Affordable Retirement Advice for Savers Act (H.R. 2823) in the House and Sen. Johnny Isakson (R-GA) introduced the Affordable Retirement Advice Protection Act (S. 1321) in the Senate on June 8, 2017. Both bills, taking different approaches, seek effectively to repeal the DOL’s new fiduciary rule under ERISA, which became generally applicable on June 9, 2017, and to add a new statutory definition of “investment advice.”
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