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‘Coming Months’ Will See Work on Fiduciary Rule Finished, Perez Says

In a Jan. 25 telephone interview with reporters, Labor Secretary Thomas Perez said that the Department of Labor (DOL) hopes that work on the proposed fiduciary rule will be completed “in the coming months.”

According to ThinkAdvisor, Perez also said that the DOL is reviewing the high number of comments it received on the rule, as well as those made during hearings.

Also in a Jan. 25 telephone interview, ThinkAdvisor says, White House National Economic Council Director Jeffrey Zients cited the fiduciary rule as one of the ways the Obama Administration has sought to promote retirement savings. He also reiterated that the rule is intended to help ensure that employees receive retirement advice that is in their best interest.