Sunday, April 14, 2024
HomeLife InsuranceBiden Renews Push to Make Julie Su Labor Secretary

Biden Renews Push to Make Julie Su Labor Secretary

President Joe Biden is constant efforts to get Julie Su confirmed because the secretary of the Labor Division.

Su has been deputy secretary of Labor since July 2021 and the appearing Labor secretary since March 2023.

Members of the Senate Well being, Schooling, Labor and Pensions Committee voted 11-10 to assist her nomination in April 2023, however the Biden administration was unable to get the nomination to the Senate ground.

What it means: The Labor Division oversees the Worker Advantages Safety Administration, the company answerable for administering the funding fiduciary provisions of the Worker Retirement Revenue Safety Act of 1974.

Sue’s renomination implies that the Senate could have a brand new probability to carry hearings on an official who has performed a crucial function in DOL efforts to impose a fiduciary commonplace on rollovers of retirement account property into annuities and cash-value life insurance coverage insurance policies.

Julie Su: Su was born in Wisconsin and grew up in California. She earned a bachelor’s diploma from Stanford and a regulation diploma from Harvard.

Whereas in California, she served as head of the California Division of Labor Requirements and the secretary of the California Labor and Workforce Improvement Company.



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