From: Pensions & Investments
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Rep. Tim Walberg, R-Mich., chairman of the Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions, in a statement called the safe harbors “a misguided regulatory loophole that would discourage small businesses from providing retirement benefits and put the hard-earned savings of workers at risk.”
Mr. Walberg chaired a subcommittee hearing Thursday on regulatory barriers to retirement saving, including what he called the “flawed fiduciary rule” from the Department of Labor that becomes effective June 9. . . .