Broker-dealers are worried that the proposed changes to the fiduciary standard could cost them up to $8 million to set up and about $2 million a year to maintain. Thats per broker-dealer.
The American Council of Life Insurers is urging Congress to make changes to the retirement system as part of its tax reform agenda that encourage more Americans to begin saving for their post-work years.
The American Society of Pension Professionals & Actuaries wrote to the IRS this week to object to certain paperwork requirements arising from the Supreme Courts decision to strike down a key portion of the Defense of Marriage Act.