Labor Dept forecasts costs, retiree gains from fiduciary ruleNEW YORK (Reuters) - A new rule aimed at protecting retirement funds will result in up to $31.5 billion in compliance costs for the brokerage industry over the next decade but produce even bigger gains for retirees, the U.S. Labor Department said on Wednesday. In its final fiduciary standard rule released on Wednesday, the Department predicted industry compliance costs of between $10 billion and $31.5 billion over the next 10 years. Individual retirement account investors will gain between $33 billion and $36 billion over the next decade as a result of the rule, and between $66 billion and $76 billion over the next 20 years, the Department said. politicsNews
labor dept forecasts costs retired gains fiduciary renew york reuters a new rule aimed protecting retirement funds result billion compliance costs brokerage industry next decade produce even bigger gains retirees labor department said wednesday in final fiduciary standard rule released wednesday department predicted industry compliance costs billion billion next years individual retirement account investors gain billion billion next decade result rule billion billion next years department said politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Labor Dept forecasts costs, retiree gains from fiduciary ruleNEW YORK (Reuters) - A new rule aimed at protecting retirement funds will result in up to $31.5 billion in compliance costs for the brokerage industry over the next decade but produce even bigger gains for retirees, the U.S. Labor Department said on Wednesday. In its final fiduciary standard rule released on Wednesday, the Department predicted industry compliance costs of between $10 billion and $31.5 billion over the next 10 years. Individual retirement account investors will gain between $33 billion and $36 billion over the next decade as a result of the rule, and between $66 billion and $76 billion over the next 20 years, the Department said. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: labor dept forecasts costs retired gains fiduciary renew york reuters a new rule aimed protecting retirement funds result billion compliance costs brokerage industry next decade produce even bigger gains retirees labor department said wednesday in final fiduciary standard rule released wednesday department predicted industry compliance costs billion billion next years individual retirement account investors gain billion billion next decade result rule billion billion next years department said politicsnews