PIABA PRESIDENT TO DELIVER REMARKS AT WHITE HOUSE EVENT
Attorney Joe Peiffer to Speak About the Newly Issued Retirement Security Rule to Protect Retirement Savers at Today’s White House Older Americans Month Convening.
WASHINGTON, D.C. – MAY 23, 2024 – The president of the Public Investors Advocate Bar Association (PIABA), Joseph Peiffer, will speak today at the White House Older Americans Month Convening about the Department of Labor (DOL)’s newly finalized Retirement Security Rule to protect retirement savers from conflicted financial advisor advice. Earlier this year, Peiffer testified before the House Subcommittee on Health, Employment, Labor, and Pensions over the rule’s importance.
The White House event will run from 12:00-1:00 p.m. ET and will be live-streamed here: https://www.youtube.com/watch?v=NyCmU9pgudI
Joseph Peiffer, president of PIABA and founding partner or the law firm Peiffer Wolf Carr Kane Conway & Wise, said: “The DOL Retirement Security Rule will protect hardworking Americans' 401(k)s from predators masquerading as ‘financial advisors’ and save retirees billions. We look forward to working with the DOL to see this rule go into effect.”
In April, the Department of Labor issued the final Retirement Security Rule, which requires all financial professionals who provide retirement investment advice to put the best interests of their clients first. According to studies, conflicted advisor recommendations motivated by sales commissions or other incentives have cost retirement savers and their families over $17 billion a year.
In February, Peiffer testified before the House Subcommittee on Health, Employment, Labor, and Pensions over the DOL rule proposal, citing dozens of examples of hard-working American retirees who lost their life savings due to conflicted advice from their financial advisors. Full text of the testimony is available here.
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ABOUT PIABA
Public Investors Advocate Bar Association is an international, not-for-profit, voluntary bar association of lawyers who represent claimants in securities and commodities arbitration proceedings and securities litigation. The mission of PIABA is to promote the interests of the public investor in securities and commodities arbitration, by seeking to protect such investors from abuses in the arbitration process, by seeking to make securities arbitration as just and fair as systemically possible and by educating investors concerning their rights. For more information, go to www.piaba.org.
MEDIA CONTACT: Max Karlin at (703) 276-3255, mkarlin@hastingsgroupmedia.com.