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