Date: September 25, 2015
Issue: Fiduciary Duty
To: The Members of the United States Congress
Filing Type: Hill
Description: Under the proposed rule, small business SEP IRA and SIMPLE IRA arrangements will become more expensive to serve, meaning that small businesses will ultimately lose access to their advisors and disproportionately bear the costs of excessive regulation. Consequently, the DOL’s proposed regulations risk hurting the very small businesses and workers they are intended to protect. This letter was signed by more than 460 signatories including small businesses, local chambers of commerce, and associations representing small businesses.