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April 16, 2015

Save Our Retirement Coalition, 41 Major Groups Applaud Public Release of Dept. of Labor’s Proposal to Protect Americans’ Retirement Savings

In Significant Victory for Consumers, Long-Awaited Department of Labor Rule Issued for Public Comment
FOR IMMEDIATE RELEASE
Tuesday, April 14, 2015
Contact: Jeff Gohringer, Better Markets, (202) 618-6430 or jgohringer@bettermarkets.com
April 14, 2015, Washington, D.C. – Members of the SaveOurRetirement.org coalition and a diverse collection of public interest groups, civil rights leaders, labor unions, professional organizations and others today commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement investment advice:
“The release of this rule is a major victory for consumers that will help bring millions of Americans one step closer to a secure, dignified retirement. Many Wall Street firms and their allies tried to stop this rule from ever seeing the light of day and prevent an open, public comment period giving all Americans the opportunity to express their views. We look forward to reviewing this proposal in detail and working to help craft the strongest possible rule to protect hardworking Americans saving for a financially secure and dignified retirement.”
The following 41 organizations issued the above statement:
AARP
AFL-CIO
AFSCME
Alliance for Retired Americans (ARA)
Americans for Financial Reform
Better Markets
Center for Community Change Action
Consumer Action
Consumer Federation of America
Consumers Union
Demos
Department for Professional Employees, AFL-CIO
Fund Democracy, Inc.
Garrett Planning Network, Inc.
International Association of Machinists and Aerospace Workers (IAM)
International Brotherhood of Electrical Workers (IBEW)
International Union of Bricklayers & Allied Craftworkers
International Union of Police Associations (IUPA)
International Union, United Automobile, Aerospace & Agricultural Implement Workers of America (UAW)
The Leadership Conference on Civil and Human Rights
NAACP
National Committee to Preserve Social Security and Medicare
National Council of La Raza (NCLR)
National Employment Lawyers Association
National LGBTQ Task Force
National Organization for Women
National Women’s Law Center
NETWORK, A National Catholic Social Justice Lobby
Pension Rights Center
Personal Capital
Public Citizen
Public Investors Arbitration Bar Association
Rebalance IRA
Sheet Metal Workers’ International Association (SMART)
SumOfUs
The American Federation of Government Employees (AFGE)
The Committee for the Fiduciary Standard
U.S. PIRG
United Steel, Paper and Forestry, a Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union (USW)
UNITEHERE!
Wider Opportunities for Women
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