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DOL Sec. Perez claims RIAs thrive in small plan market

Labor Secretary Thomas Perez defended the DOLs proposed fiduciary rule, which is currently in the waning days of the Office of Management and Budgets final review.

By Nick Thornton | Updated on March 22, 2016
Photo: AP

Last week, Labor Secretary Thomas Perez told lawmakers on the U.S. House Education and the Workforce Committee that fiduciaries currently serving small workplace retirement savings plans are seeing their businesses go “gang busters.”

Sec. Perez’s comment was made in defense of DOL’s proposed fiduciary rule, which is currently in the waning days of the Office of Management and Budget’s final review.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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