Lawmakers Demand More Details On ERISA Rule

Law360, New York (July 26, 2011, 5:13 PM EDT) -- U.S. House of Representatives lawmakers on Tuesday raised concerns about a proposed U.S. Department of Labor rule intended to protect workers' retirement savings, complaining that they didn't have enough details on how much the regulation would cost and how many people would be affected.

Phyllis Borzi, head of the Employee Benefits Security Administration, appeared before the U.S. House of Representatives' Committee on Education and the Workforce's subcommittee on health, employment, labor and pensions. She said the proposed DOL rule would help retirement plan sponsors and workers...
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