HELP Subcommittee Holds Hearing on Regulatory Barriers on Retirement Savings

HELP Subcommittee Holds Hearing on Regulatory Barriers on Retirement Savings

IRI Board Members Meeting with Members of Congress on Legislative Priorities


WASHINGTON, D.C.
– The Insured Retirement Institute (IRI) today issued a statement from IRI Senior Vice President & General Counsel Lee Covington on the House Committee on Education and the Workforce’s Subcommittee on Health, Labor, Employment, and Pensions hearing regarding the regulatory barriers facing American retirement savers.

“At a time when Americans are more responsible than ever for ensuring their own financial security throughout retirement, there has never been a greater need to reduce the regulatory barriers that impede saving and access to affordable financial advice. IRI strongly supports the adoption of a consistent standard of care for retirement investment advice, expanded access to workplace retirement plans for small business employees through open Multiple Employer Plans (MEPs), and the use of electronic delivery for plan disclosures. We are pleased that the subcommittee is examining these important priorities, which preserve access to financial guidance and options for lifetime income products – priorities that IRI shares and has outlined in our 2017 Retirement Security Blueprint. IRI appreciates Chairman Walberg and Ranking Member Sablan for their leadership and for holding this hearing.

We are pleased this hearing coincides with a visit to Capitol Hill by members of the IRI Board of Directors, who are meeting today with Members of Congress to discuss IRI’s legislative priorities. We look forward to the continued opportunity to collaborate with policymakers to advance common sense, bipartisan policies which help Americans achieve their retirement goals.”

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is the leading association for the retirement income industry.  IRI proudly leads a national consumer coalition of more than 30 organizations, and is the only association that represents the entire supply chain of insured retirement strategies.  IRI members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals.  As a not-for-profit organization, IRI provides an objective forum for communication and education, and advocates for the sustainable retirement solutions Americans need to help achieve a secure and dignified retirement.  Learn more at www.irionline.org.

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Contact: John B Jennings