To provide for a 2-year delay in the effective date of a rule of the Department of Labor relating to the "Definition of the Term 'Fiduciary'; Conflict of Interest Rule-Retirement Investment Advice".
USA115th CongressHR-355| House
| Updated: 1/6/2017
Joe Wilson
Republican Representative
South Carolina
Cosponsors (40)
Lamar Smith (Republican)Doug LaMalfa (Republican)Paul A. Gosar (Republican)Mia B. Love (Republican)Bob Gibbs (Republican)Tom Cole (Republican)Eric A. "Rick" Crawford (Republican)Mark Meadows (Republican)Randy Hultgren (Republican)Peter T. King (Republican)Rick W. Allen (Republican)Darin LaHood (Republican)Glenn Thompson (Republican)Jackie Walorski (Republican)David Rouzer (Republican)Jeff Duncan (Republican)Bruce Poliquin (Republican)Billy Long (Republican)Mike Bishop (Republican)Ralph Lee Abraham (Republican)Kenny Marchant (Republican)Ron DeSantis (Republican)A. Drew Ferguson (Republican)H. Morgan Griffith (Republican)Bill Flores (Republican)Mike Kelly (Republican)Trey Gowdy (Republican)Glenn Grothman (Republican)Tom Marino (Republican)Diane Black (Republican)Ted S. Yoho (Republican)Mac Thornberry (Republican)Bob Goodlatte (Republican)Rodney P. Frelinghuysen (Republican)Robert E. Latta (Republican)Bill Posey (Republican)Evan H. Jenkins (Republican)Jim Bridenstine (Republican)Louie Gohmert (Republican)Ted Budd (Republican)
Ways and Means Committee, Education and Workforce Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Protecting American Families' Retirement Advice Act This bill delays for two years the effective date of the Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice. (The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)
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Timeline
Introduced in House
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Labor and Employment
Administrative law and regulatory proceduresCongressional oversightDepartment of LaborEmployee benefits and pensionsFinancial services and investments
To provide for a 2-year delay in the effective date of a rule of the Department of Labor relating to the "Definition of the Term 'Fiduciary'; Conflict of Interest Rule-Retirement Investment Advice".
USA115th CongressHR-355| House
| Updated: 1/6/2017
Protecting American Families' Retirement Advice Act This bill delays for two years the effective date of the Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice. (The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)
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Timeline
Introduced in House
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Joe Wilson
Republican Representative
South Carolina
Cosponsors (40)
Lamar Smith (Republican)Doug LaMalfa (Republican)Paul A. Gosar (Republican)Mia B. Love (Republican)Bob Gibbs (Republican)Tom Cole (Republican)Eric A. "Rick" Crawford (Republican)Mark Meadows (Republican)Randy Hultgren (Republican)Peter T. King (Republican)Rick W. Allen (Republican)Darin LaHood (Republican)Glenn Thompson (Republican)Jackie Walorski (Republican)David Rouzer (Republican)Jeff Duncan (Republican)Bruce Poliquin (Republican)Billy Long (Republican)Mike Bishop (Republican)Ralph Lee Abraham (Republican)Kenny Marchant (Republican)Ron DeSantis (Republican)A. Drew Ferguson (Republican)H. Morgan Griffith (Republican)Bill Flores (Republican)Mike Kelly (Republican)Trey Gowdy (Republican)Glenn Grothman (Republican)Tom Marino (Republican)Diane Black (Republican)Ted S. Yoho (Republican)Mac Thornberry (Republican)Bob Goodlatte (Republican)Rodney P. Frelinghuysen (Republican)Robert E. Latta (Republican)Bill Posey (Republican)Evan H. Jenkins (Republican)Jim Bridenstine (Republican)Louie Gohmert (Republican)Ted Budd (Republican)
Ways and Means Committee, Education and Workforce Committee
Labor and Employment
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresCongressional oversightDepartment of LaborEmployee benefits and pensionsFinancial services and investments