Wilson noted that the "investment ‘options’ that are offered will be defined arbitrarily by the Department of Labor in regulation."
Again, as I’ve said in other threads. Congress has a self-interest in letting the executive branch make laws through regulation without congress’s approval. One aspect is that the creeping socialism/fascism that this bill represents is not possible without a single executive being able to fiddle with the options as unintended consequences pop up. The other is that congress does not have to take responsibility for passing bad laws. They can blame the president even when they are obvious stinkers (See the SEC ruling on rating agencies).
Our founders were specific that the president would be a mere administrator. Congress was supposed to be the only place laws originated.
The solution to all these laws through regulation is to have congress pass a bill requiring congress to approve all regulations before they take effect.