The editorial board of USA Today has gone on the recordsupporting the Department of Labor’s proposed fiduciaryrule.
In an editorial titled “The Retirement Racket,” the board saidthat DOL’s regulation governing retirementplans, based on the Employee Retirement IncomeSecurity Act (ERISA), haven’t changed since they were drafted in1975.
However, the retirement landscape has changed drastically, itpointed out. In 1975, almost 40 percent of workers were covered bydefined benefit plans; today that’s fallen to just 18 percent.
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.
