The Department of Labor's Employee Benefits Security Administration submitted a rule that "would irrationally require fiduciaries to elevate immaterial and speculative risks in employee retirement savings investment decisions," the state leaders wrote in the letter, first provided to FOX Business. "Instead, fiduciaries must be held to their duties of prudence and loyalty by considering only the material financial or pecuniary factors of each potential investment."
Republican officials – Attorney General Sean Reyes, Treasurer Marlo
Oaks, and State Auditor John Dougall – led the letter, which Republican
officials from Alabama, Alaska, Arizona, Arkansas, Florida, Georgia,
Idaho, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana,
Nebraska...Read more and see video here.