Friday, May 12, 2017

Lesser Praises Passage Of Bill

Lesser Praises House Passage Of Bill Requiring
Disclosure Of Conflict In Retirement Planning

Rep. Matthew Lesser (D-Middletown) on Thursday praised the House unanimous passage of legislation that would require companies administering municipal plans to disclose their fee ratios and conflicts of interest.

“The Connecticut House of Representatives took an important step towards reforming the 403(b) industry this afternoon,” Lesser said. “With a unanimous vote, the House is sending a message that Connecticut teachers should be told about fees and conflicts of interests prior to being sold voluntary retirement products. This is a big deal for any teacher planning to save for retirement.”

The bill goes to the Senate for consideration. If passed and signed into law by Gov. Dannel Malloy, the legislation would be effective Oct. 1.

No comments:

Post a Comment

Authors of comments and posts are solely responsible for their statements. Please email MiddletownInsider@gmail.com for questions or concerns. This blog, (and any site using the blogger platform), does not and cannot track the source of comments. While opinions and criticism are fine, they are subject to moderator discretion; slander and vile attacks of individuals will not to be tolerated. Middletown Insider retains the right to deny any post or comment without explanation.