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H. Rept. 114-527 1 (2016-04-26)

handle is hein.congrecreports/crptxszc0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Gp 114TH CONGRESS [REPT. 114-527 2d Session HOUSE OF REPRESENTATIVES Part 1 DISAPPROVING THE RULE SUBMITTED BY THE DEPART- MENT OF LABOR RELATING TO THE DEFINITION OF THE TERM FIDUCIARY' APRIL 26, 2016.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed. Mr. KLINE, from the Committee on Education and the Workforce, submitted the following REPORT together with MINORITY VIEWS [To accompany H.J. Res. 88] [Including cost estimate of the Congressional Budget Office] The Committee on Education and the Workforce, to whom was referred the joint resolution (H.J. Res. 88) disapproving the rule submitted by the Department of Labor relating to the definition of the term Fiduciary, having considered the same, report favorably thereon without amendment and recommend that the joint resolu- tion do pass. PURPOSE House Joint Resolution 88, as ordered reported by the Committee on Education and the Workforce (Committee) on April 21, 2016, ex- presses congressional disapproval of the U.S. Department of Labor (DOL or Department) rule amending the regulatory definition of fiduciary 1 under the Employee Retirement Income Security Act of 1974 (ERISA)2 and the Internal Revenue Code of 1986 (Code).3 ' Definition of the Term Fiduciary; Conflict of Interest Rule-Retirement Investment Advice, 81 Fed. Reg. 20946 (Apr. 8, 2016). 229 U.S.C. § 1001 et seq. ERISA section citations will be used throughout. 326 U.S.C. § Iet seq. [hereinafter the Code]. 59-006

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