S.J.Res. 33
Referred to CommitteeA joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice.
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Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
4/18/2016 • Senate
Summary
This joint resolution disapproves and nullifies a Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice.
(The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)
Introduced in Senate • 4/18/2016
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Sponsor & Cosponsors (42)
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Cosponsors (41)
Bill Journey
Originated in the Senate
Introduced
April 18, 2016
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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Enacted into Law
Text Versions (1)
Related Bills (2)
H.J.Res. 95
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to defining and delimiting the exemptions for executive, administrative, professional, outside sales, and computer employees.
H.J.Res. 88
Disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary".