Senator Murray Praises Final Rule Protecting Retirement Savers

Senator Murray has pushed for years for a strong rule to protect retirement savers and ensure they are getting sound financial advice

Murray: “This rule is going to strengthen people’s retirement resources, save them money, and ultimately save them from potential financial heartache”

Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), a senior member and former Chair of the Senate Committee on Health, Education, Labor, and Pensions (HELP), issued the following statement on the U.S. Department of Labor’s final rule strengthening protections for retirement savers.

“It’s been a long road, but I’m pleased to see the Biden Administration put forward a rule that will protect retirement savers and the nest eggs they rely on from conflicts of interest. This rule is going to strengthen people’s retirement resources, save them money, and ultimately save them from potential financial heartache by helping them get sound financial advice that is truly in their best interests. I’ve been following this issue for years, and I will continue watching this closely and advocating for policies that will help Washington state families build their financial security.”

During her time leading the Senate Health, Education, Labor, and Pensions Committee, Senator Murray pushed hard in support of a rule that would protect families’ retirement security. She sharply criticized the Trump Administration for undermining and ultimately abandoning a previous, Obama-era protection, and blasted the Trump Administration’s entirely lackluster replacement proposal.

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