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President Biden's @USDOL has finalized the Retirement Security Rule, prioritizing the working class by eliminating junk fees and safeguarding retirement savings. However, critics like @EdWorkforceCmte and @RepRickAllen argue that the fiduciary rule will limit options for American savers and retirees, potentially causing regulatory challenges. Despite this, @SenSchumer supports the rule, emphasizing its importance in protecting workers' rights and expanding opportunities for hardworking Americans. The @EdWorkforceDems highlight the positive impact of the rule, stating that requiring advisers to act in clients' best interests could increase savings by up to 20 percent over a lifetime.
Everyone deserves to retire with dignity. This final rule will directly impact Americans' retirement savings. According to the @WhiteHouse, requiring advisers to make recommendations in their clients' best interests can increase savings by up to 20 percent over their lifetime. https://t.co/TWaDirmD4z
I salute President Biden for taking decisive action to protect and uphold the rights of workers with this new rule. I’ll continue to work hand-in-hand with the administration to restore and expand opportunities for hardworking Americans. https://t.co/0JxOu9umg0
Today’s finalized fiduciary rule from President Biden’s @USDOL will have far-reaching implications for millions of American families. This rule will throw countless retirement plans, retirees, and savers into a regulatory nightmare. My full statement: https://t.co/qswUcZ2cOE