AARP Hearing Center
The following documents related to consumer affairs and the financial security of people 50-plus are presented in reverse chronological order.
October
L: AARP writes to urge that you take steps to avoid default on our national debt without risking benefits for current Social Security and Medicare beneficiaries or the health of our fragile economy. Older Americans care very deeply about our country, and many are grandparents who feel a sense of stewardship and responsibility to make sure that their grandchildren enjoy the same opportunities and benefits our great nation has provided to them. At the same time, millions of older Americans rely every day on their Social Security and Medicare and deserve reassurance that the benefits they have worked over a lifetime to earn are secure. Therefore, it is critical that the United States does not default on its debt while protecting the Social Security and Medicare benefits of current retirees. (Senate - PDF) (House - PDF)
July
L: On July 20, 2015 AARP filed comments with the U.S. Department of Labor concerning the proposed Conflict of Interest rule, supporting the protection of over 82 million households who are counting on employer-sponsored plans, Individual Retirement Accounts (IRAs), or both, for their retirement security. In order to better ensure these families will have adequate income in retirement, investors need to know that the retirement advice provided by financial service professionals is in their sole interests.. (PDF)
L: On July 20, AARP filed comments with the U.S. Department of Labor concerning the Best Interest Exemption. The proposed exemption would provide conditional relief for financial entities that are fiduciaries by reason of the provision of investment advice to receive compensation when participants and beneficiaries, IRA owners, and small plans purchase, hold or sell investment products in accordance with the fiduciaries’ advice. The Department proposed this exemption in connection with the publication of its proposed regulation under ERISA section 3(21)(A)(ii), which defines who is a fiduciary of an employee benefit plan as a result of the provision of investment advice to a plan or its participants or beneficiaries. (PDF)
