Harmful Regulation to Retirement Savers Should Be Delayed
While there is no indication yet on when the department's review of its rulemaking will be completed, we expect a one-year delay would provide sufficient time for it to complete its examination, "determine next steps, and communicate the results of the examination and the Department's future plans to stakeholders," ACLI said in response to the department's request for information about the regulation.
"A delay is prudent and necessary to prevent further harm to retirement savers," ACLI said. The regulation is "already adversely affecting the ability of Americans to save and receive retirement information and financial advice."
In addition, a delay will allow time for the Department to consider and make key changes while coordinating with other regulators, such as the
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