Federal Spotlight: Department of Labor Rules threaten small business retirement plans

July 16, 2015

ABI joined the U.S. Chamber of Commerce and several other national and state organizations in sending a letter to all members of Congress expressing concern about the Department of Labor’s expansion of the “fiduciary investment advice” definition to include small business plans such as SEP and SIMPLE IRAS. According to the chamber, the rule will disproportionately impact small businesses and cause additional burdens for employers. To see the letter click here. To read more information about the rule click here.