The Bipartisan Push Back Against Obama’s Retirement Attack
...The coalition is being led by the Competitive Enterprise Institute (CEI). The goal is to stop what is known as the fiduciary rule implemented by the Obama administration. The rule restricts investment choices for retirement and savings plans. The Department of Labor (DOL) says most Americans are just not knowledgeable enough to make good investments. Arguing it hurts retirement planning and liberty, the coalition letter is urging Congress to defund the rule.

“Under the fiduciary rule, the DOL claims authority never granted by Congress to greatly restrict investment choices for 401(k)s, individual retirement accounts (IRAs) and other saving vehicles,” the letter states. “The DOL doesn’t even bother to hide its contempt for the intelligence of American savers.”...