Economy

FSR to host discussion on retirement security challenges

Financial Services RoundtableThe Financial Services Roundtable will hold a panel discussion next month on challenges in retirement security and a pending fiduciary rule from the U.S. Department of Labor.

The discussion will take place from 8:30-10 a.m. on Wednesday, March 12, at the Hyatt Regency Hotel on New Jersey Avenue in Washington, D.C.

Phyllis C. Borzi, the assistant secretary of labor at the Employee Benefits Security Administration, will present opening remarks at the discussion.

Panel members will include Reps. Gwen Moore (D-Wis.) and Blaine Luetkemeyer (R-Mo.), SEC Commissioner Daniel Gallagher, Employee Benefit Research Institute President and CEO Dallas Salisbury and FSR President and CEO Tim Pawlenty.

The Department of Labor has put forth a proposal to change the definition of fiduciary under the Employee Retirement Income Security Act to cover more professionals who provide retirement advice.

The original proposal was withdrawn in 2010 after backlash from the financial services industry, and the Department of Labor said it would re-propose the definition while it conducted an economic analysis — a proposal expected in coming months.

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