Companion legislation crafted as an alternative to the Department of Labor’s proposed fiduciary rule passed a U.S House of Representatives Education and Workforce Committee hearing on a party-line vote.
The Affordable Retirement Advice Protection Act, introduced by Rep. Phil Roe, R-Tennessee, and the Strengthening Access to Valuable Education and Retirement Support Act, introduced by Rep. Peter Roskam, R-Illinois, survived the mark-up hearing with 22 Republican votes, and 14 Democratic dissenters.
Each bill is co-sponsored by at least several Democrats.
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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.
