2 thoughts on “Court upholds (and Trump endangers) protections for Retirement Investors

  1. Headline: Court upholds (and Trump endangers) protections for Retirement Investors

    Interesting premise. “In February 2015, then-President Obama sought to protect people who are saving for retirement. ” If that was his intent, I wonder why he chose to delay implementation more than two years and until he was out of office for almost four months–in April 2017– to do that. Since he had ” a phone and a pen” and liked to legislate through executive order on much bigger issues, it seems odd that his great interest in protecting people could be put on a leash for so long.

    More likely, and more in character for the ex-president, he chose to take the easy path, try to look like a hero and let others deal with the fallout. He had no such qualms about using executive orders by the bushel even up to his last days in office on other matters. But in the pursuit of something so worthy as “protecting people who are saving for retirement,” his pen fell silent.

    Until I see something more convincing than this account, I’ll file this story in the Fake News folder.

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    • Choosing to disapprove of President Obama and his policies is your right and your opinon. And you are correct that Obama used Executive Orders many times, just as President Trump is doing. You wonder why Obama did not use an Executive Order in this matter, and delayed implementation until he had left office.

      The vast majority of executive action occurs via the formal rule-making process, which is slow and involved, designed to seek public comment before rules are issued. In this matter, President Obama elected to use the formal rule-making process instead of acting by Executive Order. I do not know his motivation for selecting the formal rule-making procedure.

      If you want to see how the formal rule-making process worked in relation to the Fiduciary Duty Rule, visit this DOL webpage: https://www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/proposed-regulations/1210-AB32-2

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