1. Short title This Act may be cited as the Affordable Retirement Advice for Savers Act . 2. Repeal of Fiduciary Definition rulemaking (a) In general The Fiduciary Definition rulemaking described in subsection (b) is repealed and shall have no force or effect, and the regulations and prohibited transaction exemptions amended or repealed by such rulemaking are restored or revived as if such rulemaking had not been issued. (b) Fiduciary Definition rulemaking The Fiduciary Definition rulemaking described in this subsection consists of the following: (1) The final rule of the Department of Labor titled Definition of the Term Fiduciary ; Conflict of Interest Rule—Retirement Investment Advice published April 8, 2016 (81 Fed. Reg. 20946). (2) The Best Interest Contract Exemption published April 8, 2016 (81 Fed. Reg. 21002), and the technical correction published July 11, 2016 (81 Fed. Reg. 44773). (3) The Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs published April 8, 2016 (81 Fed. Reg. 21089), and the technical correction published July 11, 2016 (81 Fed. Reg. 44784). (4) The Amendment to Prohibited Transaction Exemption (PTE) 75–1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain Broker-Dealers, Reporting Dealers and Banks published April 8, 2016 (81 Fed. Reg. 21139). (5) The Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 86–128 for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers