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2015 Archives: Financial Security and Consumer Affairs

AARP correspondence to lawmakers and regulators

The following documents related to consumer affairs and the financial security of people 50-plus are presented in reverse chronological order.


July

L:  On July 20, 2015 AARP filed comments with the U.S. Department of Labor concerning the proposed Conflict of Interest rule, supporting the protection of over 82 million households who are counting on employer-sponsored plans, Individual Retirement Accounts (IRAs), or both, for their retirement security.  In order to better ensure these families will have adequate income in retirement, investors need to know that the retirement advice provided by financial service professionals is in their sole interests.. (PDF)

L:  On July 20, AARP filed comments with the U.S. Department of Labor concerning the Best Interest Exemption.  The proposed exemption would provide conditional relief for financial entities that are fiduciaries by reason of the provision of investment advice to receive compensation when participants and beneficiaries, IRA owners, and small plans purchase, hold or sell investment products in accordance with the fiduciaries’ advice.  The Department proposed this exemption in connection with the publication of its proposed regulation under ERISA section 3(21)(A)(ii), which defines who is a fiduciary of an employee benefit plan as a result of the provision of investment advice to a plan or its participants or beneficiaries. (PDF)

 

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