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Protecting American Families’ Retirement Advice Act

H.R. 355 · 115th Congress · Jan 6, 2017 · Lineage

A BILL

To provide for a 2-year delay in the effective date of a rule of the Department of Labor relating to the Definition of the Term Fiduciary; Conflict of Interest Rule-Retirement Investment Advice.

Section 1 Short title

This Act may be cited as the “Protecting American Families’ Retirement Advice Act” .

Sec. 2 Effective date of rule

Notwithstanding the effective date set forth in the rule submitted by the Department of Labor relating the “Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice” (published at 81 Fed. Reg. 20946 (April 8, 2016)), such rule shall not take effect until the date that is 2 years after the date of enactment of this Act.