For Immediate Release
Monday, February 23, 2015
Statement of AFSCME Pres. Lee Saunders: Strengthening Retirement Investments Is Key to Retirement SecurityWashington, D.C. —
AFSCME Pres. Lee Saunders issued the following statement in response to the Obama administration’s move to strengthen retirement investment protections:
“Every American worker and retiree should be confident that their retirement savings will be there so they can live with dignity after a lifetime of labor, without being shortchanged by financial advisers giving inappropriate or conflicted advice in exchange for lucrative commissions.
“Today the Obama administration took a necessary step to ensure that tens of millions of working families will receive investment advice that directly benefits them rather than large profitable Wall Street firms.
“AFSCME applauds the administration’s efforts to limit conflicts of interest and increase accountability and more importantly protect consumers who seek retirement investment advice. We encourage the Office of Management and Budget (OMB) to review and finalize action on this long overdue consumer protection proposed rule.”