Group: Retirement regs to cost $3.9B to implement

A new study released Tuesday argues that President Obama’s proposed retirement regulations will cost $3.9 billion to implement — significantly more than administration officials have previously calculated.
“This study shows that the DOL’s proposed fiduciary rule would be costly and burdensome to both the independent financial services industry and the investors that rely on the critical advice they receive,” said FSI President Dale Brown in a statement.
He said, “it also illustrates the unintended consequences the rule will have on hard-working Americans trying to save for retirement, particularly low and moderate-income investors who need advice the most.”
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Regular the hill posts