The benefits of the Department of Labor’s proposed fiduciaryrule do not outweigh the costs, according to onewitness at a Senate subcommittee hearing on the rule.
Robert Litan, “a life long Democrat and a former ClintonAdministration official,” told lawmakers he respectfully disagreeswith the way the DOL has outlined its proposal, in spite of “caringdeeply about the kind of goals the Department is pursuing.”
Litan, a non-resident fellow at the Brookings Institute, has also spentconsiderable time practicing law in the private sector, and hasbeen a member of the international advisory board of the PrincipalFinancial Group, according to his bio on Brookings’ website.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
