Archives for Fiduciary Duty

Letter to the DOL requesting an extension of the fiduciary rule applicability date (9/26/16)

Date: September 26, 2016

Issue: Fiduciary Duty

To: The Department of Labor

Filing Type: Request for extension

Description: Most U.S. Chamber members sponsor retirement plans for their employees, and therefore have a fiduciary obligation to ensure that their plans are functioning properly for their participants and beneficiaries. Based on conversations with our diverse membership, we are requesting an extension of the applicability date of the fiduciary regulation because the current 12 month applicability date is simply too short, and will result in significant disruptions to our members’ plans.

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Letter to Sen. Collins on S. 1970, the ‚ÄúRetirement Security Act of 2014″ (1/31/14)

Date: January 31, 2014

Issue: Regulatory, Fiduciary Duty

To: The Honorable Susan Collins, United States Senate

Filing Type: Congressional Letter

Description: The Chamber sent a letter to Sen. Collins thanking her for introducing S. 1970, the “Retirement Security Act of 2014.” The Bill includes key provisions that the Chamber has set forth as important reforms to the retirement system, including eliminating barriers to the use of multiple employer plans; providing optional safe harbor alternatives; and simplifying notice requirements.

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