OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Rep. Kelly & Chairman Johnson Introduce Retirement Choice Protection Act

Press Release

Date: Nov. 4, 2015
Location: Washington, DC
Issues: Entitlements and the Safety Net Finance and Banking

U.S. Representative Mike Kelly (R-PA) -- a member of the House Ways and Means Committee -- issued the following statement today after introducing H.R. 3922, the Retirement Choice Protection Act of 2015, with Social Security Subcommittee Chairman Sam Johnson (R-TX). The legislation will provide a workable "best interest" standard to the U.S. Department of Labor's (DOL) proposed rule on fiduciary standards.

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"The Labor Department's fiduciary rule will have a devastating impact on the ability of everyday Americans to save for their retirement. By adding a workable best interest standard to this ill-conceived rule, we will ensure that American families can continue to receive affordable investment guidance for a secure retirement while making it easier for small businesses to provide retirement benefits to their employees. I am very proud to work with Chairman Johnson, a longtime leader on retirement issues, on this commonsense legislation to avert unnecessary hardship for Americans caused by yet another harmful Obama administration regulation."

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