The White House announced on Tuesday that the Department of Labor will propose a new rule to protect retirement security and combat junk fees. This rule, if finalized, will require financial advisers to provide retirement advice in the best interest of the saver instead of prioritizing their own financial gain, as stated in a White …
By Jarrett Renshaw (Reuters) – The Biden administration is set to unveil new rules on retirement plan providers aimed at closing loopholes that enable the industry to sell products that prioritize their own revenue over the best interests of customers. This move is part of the administration’s ongoing efforts to combat the prevalence of so-called …
Gas Price Spike Causes Inflation Rise in August Gas prices experienced a sharp increase in August, resulting in a rise in inflation. However, most other costs saw a more modest growth rate, indicating a general cooling of consumer price increases. The latest data from the Labor Department reveals that the consumer price index increased by …
Millions of Americans have a chance to receive overtime pay under a new reform introduced by the Biden administration. The Labor Department has proposed a federal rule that would expand overtime protections for more salaried workers, potentially benefiting an additional 3.6 million employees. Currently, the overtime salary threshold is set at $35,558 per year. The …
President Joe Biden has directed the Labor Department to issue an alert for extreme heat and strengthen workplace safety enforcement in response to the scorching temperatures affecting much of the country. The current heatwave poses significant risks to millions of workers who work outdoors or in hot environments, such as warehouses. On average, dozens of …