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Alexander Statement on Labor Department’s Final Fiduciary Rule

WASHINGTON, D.C., April 6 – Senate labor committee Chairman Lamar Alexander (R-Tenn.) today made the following statement on the Labor Department’s release of its final rule to redefine and expand the term “fiduciary”:

“I am carefully reviewing the final rule released by the Labor Department to ensure that it is nothing like the proposed rule, which would have crippled low- and middle-income Americans’ access to affordable retirement advice—ensuring good retirement advice is only available to the rich. I want to be sure this rule does nothing to make it harder and more expensive for hard-working Tennesseans to plan for their retirement and will continue oversight in the Senate labor committee on this issue.”