06.06.25

DOL Retirement Unit Needs 'Major Turnaround,' Nominee Says

by: Melanie Waddell

Daniel Aronowitz, President Trump's nominee to head the U.S. Department of Labor's (DOL) Employee Benefit Security Administration, says the unit "needs a major turnaround." During his confirmation hearing before the Senate Health, Education, Labor and Pensions Committee, Aronowitz said he'd "strive to provide regulatory clarity" to Labor's fiduciary rule as applied to IRA rollovers. Among the other priorities he outlined are ending the practice of "open-ended investigations that go on for years," ending "the bias against" employee stock ownership plans and finding "other legitimate ways to expand" retirement benefits.

Read the full article on Think Advisor