401(k) Fiduciary Rule Proposal to Face House Republican Scrutiny

House Republicans have launched a formal inquiry into the US Labor Department’s new 401(k) investment advice proposal, announcing a hearing to examine how the proposed rule would impact access to retirement savings.

The House Financial Services Capital Markets Subcommittee will host a hearing titled “Examining the DOL Fiduciary Rule: Implications for Retirement Savings and Access” at 10 a.m. on Jan. 10, according to full committee Chair Patrick McHenry (R-N.C.).

No further details or witnesses have yet been released. Critics of the DOL’s Retirement Security rules package (88 Fed. Reg. 75890–76045) say it threatens to limit access to investment ...