dol labor rule survey 1
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Financial Regulation
National Survey
March 23-25, 2015
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The following national survey was conducted by OnMessage Inc. Telephone interviews were conducted on March 23-25, 2015. This survey
consists of 1400 likely voters and was stratified by state to reflect historic voter
trends. The margin of error for this survey is +/- 2.62%.
2
Methodology
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4
Favor Oppose DK/R
10
35 23
18
15 Somewhat
Strongly
As you may know President Obamas Department of Labor is proposing a
new rule regulating individual retirement accounts, known as IRAs.
These new rules would place additional regulation on financial
representatives and limit who is allowed to provide IRA investment advice.
From what you know, do you favor or oppose this new regulation.
28
50
-
5
DOL Regulation
Democrat Independent Republican
51
22 8
23
55
74 FavorOppose
Party
38% 23% 37%
55 &
Under
Over 55 Male Female White Af.
American
Hispanic
33 24 25
30 25
46
30
46 54 53
46 53
28
49
Age/Gender/Race
38% 12%
55% 48% 52% 72% 11%
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7As you may know, the Department of Labor is an executive department
that operates directly under the authority of the President. With this in
mind, which of the following comes closest to your opinion?
Some people say that while we may need to revise the rules
of retirement savings, its not the governments job to
decide whats best for an individual, and savers should have
the freedom to weigh the potential risk and return of
various investment options.
Not the Government's
Job
Benefit to Americans Both Neither DK/R
59
26
2 5 8
Other people say this new regulation benefits hard
working Americans by closing loopholes that allow
retirement companies and financial representatives to
take advantage of their clients by falsely advising to make
a profit and pad their own pockets.
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Democrat Independent Republican
34
64
81
49
188
Not the Government's Job
Benefit to Americans
8
Government Involvement in IRAsParty
55 & Under Over 55 Male Female
60 60 62 56
28 25 26 26
Age/Gender/Race
-
6
Favor Oppose DK/R
10
56
10 10
13 SomewhatStrongly
As you may know, new regulations would put the Department of Labor involved in financial
regulation, including IRAs and other types of retirement plans. Critics say the Department of
Labor should not be in the business of running individual retirement accounts. Not only do
they lack the financial expertise, but its simply another way for big government agencies to
place restrictions on investor choice. Knowing this, do you favor or oppose the Department
of Labors decision to get involved in regulating IRAs?
69
20
DOL Lack of Expertise
-
7
DOL Lack of Expertise
Democrat Independent Republican
39
16 5
47
72
90 FavorOppose
Party
38% 23% 37%
55 &
Under
Over 55 Male Female White Af.
American
Hispanic
22 19 19 22 18
36 25
69 72 72 67 73
51
66
38% 12%
55% 48% 52% 72% 11%
Age/Gender/Race
-
8
Favor Oppose DK/R
11
53
11
12
13 SomewhatStrongly
As you may know, President Obama has recently called on the Department of Labor to get
involved in financial regulation, including IRAs and other types of retirement plans. Critics
say this is merely a political move by President Obama to sidestep the appropriate
independent agencies. They say that the Department of Labor lacks financial expertise and
should not be involved in regulating IRAs. Knowing this, do you favor or oppose President
Obama ordering the Department of Labor to get involved in regulating IRAs?
66
23
DOL Lack of Expertise/Obama Sidestep
-
9
DOL Lack of Expertise/Obama Sidestep
Democrat Independent Republican
46
17 5
39
71
91 FavorOppose
Party
38% 23% 37%
55 &
Under
Over 55 Male Female White Af.
American
Hispanic
25 21 22 24 20
46
23
65 69 68 65 70
37
68
38% 12%
55% 48% 52% 72% 11%
Age/Gender/Race
-
26
24
47
49
6
5
5
6
100 50 50 100
Anti-Regulation Message Tests
10
Less Likely More Likely
NET
This new regulation would push middle class savers to
robo-advisers on the internet, forcing them to use online
self-service instead of meeting face-to-face with a financial
representative of their choice.
Under this new regulation, many low and middle income
retirement savers will no longer be able to use their local
financial representative for retirement investment advice
and will instead be forced into using expensive flat-fee
advisers or fending for themselves online.
-62 73 11
-62 73 11
Much Less Somewhat Less Somewhat More Much More
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March 23-25, 2015
Financial Regulation
National Survey
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