Washington, DC (April 28, 2016) Congressman Pearce issued the following statement after the House passed H.J. Res. 88, Protecting Access to Affordable Retirement Advice:

"This week is Money Smart Week. Around the nation, banks, credit unions, and retirement advisors are setting up events and holding classes where Americans can learn how to save for the future and how to be smarter with their finances. There are New Mexicans throughout our state and Americans around the nation that want to save for the future, and plan responsibly, they just don't know where to turn or how to invest. My parents were this way. They didn't want to know what mutual fund or money market bond they were invested in, just simply the peace of mind that when they retired, they would be able to have a comfortable life. Access to sound retirement advice is essential for Americans to plan, invest, and save. Unfortunately, the Department of Labor's recent 1000 page regulation, known as the fiduciary rule, would make it more difficult for individuals and families to seek sound advice about where to put their hard-earned money, and ultimately invest. This bill blocks that rule and ensures that families have access to important financial advice. Every New Mexican should have the freedom to shape and feel secure about their financial future," said Congressman Steve Pearce.

The resolution prevents the Department of Labor's "fiduciary" rule that restricts access to retirement advice from going into effect.