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Congress Seeks to Block New Retirement Investment Protection Rule.

This resolution aims to nullify a Department of Labor rule that sought to tighten the definition of an investment advice fiduciary for retirement savings. If passed, investment advisors handling your retirement funds will not be required to meet the new, stricter standards designed to protect clients from conflicts of interest. This maintains the current rules regarding retirement advice.
Key points
The resolution seeks to disapprove the DOL rule defining who must act as a fiduciary when advising on retirement security.
Blocking the rule means that the existing standards for investment advisors handling 401(k)s and IRAs will remain in effect.
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Additional Information
Print number: 118_SJRES_79
Sponsor: Sen. Budd, Ted [R-NC]
Process start date: 2024-05-15
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Retirement Security Rule: Definition of an Investment Advice Fiduciary".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_SJRES_79.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-15.

What are the main provisions?

Key points include:

  • The resolution seeks to disapprove the DOL rule defining who must act as a fiduciary when advising on retirement security.
  • Blocking the rule means that the existing standards for investment advisors handling 401(k)s and IRAs will remain in effect.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Budd, Ted [R-NC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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