Congress may still have a chance to kill a Labor Department interpretive bulletin on investment education, which is expected to be released early next week.
Through a law passed this year, Congress has the authority to review and overturn regulations and other opinions issued by government agencies. If Congress overturns the ruling and the president agrees, the sponsoring agency is not allowed to reissue a similar rule.
This will be the first interpretive bulletin sponsored by the department's Pension and Welfare Benefits Administration to undergo this process. Sources agreed the bulletin is more helpful than it is controversial. The interpretive bulletin, proposed in December, stated that plan information, general financial and investment information, and asset allocation models that all provide generally accepted investment concepts are all considered investment education materials by the Labor Department.