The schedule of testimony, which lists the panels of experts who will speak, is posted on the department’s website.
Hearings on the controversial rulemaking will take place over nearly four full working days—August 10 through 13—at the Department of Labor (DOL) offices in Washington, D.C.
With the hearings, the DOL is bringing to a head literally years of heated public debate and discussion, much of it written into formal comment letters. Many retirement industry providers have joined mostly Republican lawmakers in asking Labor Secretary Thomas Perez to put on the breaks and reconsider the proposed rules. Others, especially independent fiduciary advisers, have supported the DOL’s effort, taking a cooler view of the dangers of a strengthened fiduciary standard.
During the multiple days of testimony, DOL officials will hear from a wide range of advisers, recordkeepers and legal firms. Some of the names mentioned in the agenda include Groom Law Group Chartered, Plan Sponsor Council of America, Center for Retirement Research at Boston College, Insured Retirement Institute, Voya Financial, Drinker Biddle & Reath, Pension Rights Center, Northern Trust Co., Russell Investments, American Retirement Association, CFA Institute, Committee of Annuity Insurers, Empower Retirement, Ameriprise Financial, American Benefits Council and Financial Engines.