Tag Archives: Department of Labor

News Release: Labor Department’s Final Retirement Security Rules Will Help Protect the Savings of All Americans From Adviser Conflicts of Interest

Members of the Save Our Retirement coalition, along with a diverse collection of more than 60 consumer, retirement, and labor groups, today commended the Department of Labor (DOL) for issuing final rules designed to protect Americans from the harmful effects of conflicts of interest when financial advisers provide retirement investment advice: The rules will require all financial professionals who provide retirement investment advice to put the best interests of their clients ahead of what’s best for their own pockets.  This commonsense requirement is long overdue and promises to be a major improvement over the status quo, which allows too many financial professionals and firms to offer self-serving retirement advice at the expense of workers and retirement savers.

News Release: AFREF and Partners Submit Comments On Labor Department Proposal to Allow Retirement Plans To Consider Sustainability, Jobs, Equity, Workers 

Americans for Financial Reform Education Fund (AFREF) submitted comments to the Labor Department supporting a proposed rule that will allow and encourage private retirement plans and pensions to consider sustainability factors like climate change, workers’ rights, racial, economic and environmental justice, and corporate governance when investing and voting proxies.

Department of Labor Building

Letter to the Regulators: letter from 26 organizations to the Department of Labor urging reconsideration of guidance allowing retirement plans to invest in Private Equity

26 organizations, led by the Consumer Federation of America urge reconsideration of the DOL policy allowing defined contribution plans to invest in private equity funds. Issues raised to the DOL over its original letter considering allowing such funds into private equity include: It fails to give

Clean Energy Climate

News Release: Labor Department Will Not Enforce Rules that Impede ESG Investing

In a significant reversal, the Department of Labor (DOL) today announced they will not enforce the anti-sustainable investing rules that were hastily published in the final days of the Trump administration. The two rules, which went into effect in January 2021, would have made it much harder for retirement plans to integrate environmental, social and governance (ESG) risks into their investment practices.