The American Council of Life Insurers (ACLI) issued the following statement in connection with the U.S. Department of Labor’s re-proposed fiduciary standard rule:

Washington, D.C., (April 14, 2015) – The U.S. Department of Labor issued a new proposal today redefining who will be held to the ERISA fiduciary standard. The ACLI had serious concerns with the department’s 2010 proposal. We will closely review the new proposal and work to ensure that people planning and saving for income in retirement will continue to have access to the education and information they want and need.

 
The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with approximately 300 member companies operating in the United States and abroad. ACLI advocates in federal, state, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers’ products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing more than 90 percent of industry assets and premiums. Learn more at www.acli.com.