09.06.24

Repealing DOL Fiduciary Rule Would Increase Investor Fees: CBO

by: Melanie Waddell

Repealing the U.S. Labor Department’s new fiduciary rule “is likely to increase fees paid by investors and may affect the types of investments held in retirement plans,” according to an analysis by the Congressional Budget Office (CBO) of House Resolution 142 (H.J. Res. 142). The resolution would disapprove the rule known as the Retirement Security Rule and prevent the regulation from taking effect. Under that standard, advisors “must act solely in the best interest of plan participants and beneficiaries,” CBO said. “Therefore, enacting H.J. Res. 142 could change the income received by firms and individuals, and as a result, the taxes paid by those entities.”

Read the full article on Think Advisor