DOL

Resource Round Up: DOL’s Feb 16 Fiduciary Rule

Topics: DOL, Fiduciary Rule

“Last Tuesday the Department of Labor’s Fiduciary Rule went into effect as scheduled. This rule was issued by the Trump Administration late last year, and it will have a meaningful impact on the advice you can provide clients who are considering rollovers from ERISA-protected retirement accounts.” – Marc Cadin, Finseca CEO Bookmark this page for…

Surprise! – Biden Administration allows Trump Fiduciary Rewrite to Move Forward

Topics: DOL, Fiduciary, rollovers, Standards of conduct

What happened In a surprise development, the Biden Administration’s Department of Labor decided to allow the Trump Administration’s fiduciary rewrite to go into effect. , which means the new prohibited transaction exemption for fiduciary investment advice became available for use on February 16th. In addition, because the Biden Administration made no changes, it is also…

Administrative Hearing on the Proposed Class Exemption Regulation “Improving Investment Advice for Workers and Retirees”

Topics: DOL

Testimony of Hon. Bradford Campbell, Esq. Representing: The Association for Advanced Life Underwriting/GAMA International, The Committee of Annuity Insurers, The Indexed Annuity Leadership Council, The Insured Retirement Institute, The National Association for Fixed Annuities, The National Association of Independent Life Brokerage Agencies, and The National Association of Insurance and Financial Advisors Before The U.S. Department…

Defined Benefit Pension Plans Face Less ERISA Fiduciary Risk Under Recent Supreme Court Decision

Topics: DOL, ERISA, Fiduciary, Qualified Plans

The WRMarketplace is created exclusively for Finseca members by experts at Troutman Sanders and the Finseca staff. WR Marketplace #20-14 was written by Jim Earle and Christopher Stock. The Finseca WR Newswire and WR Marketplace are published by Finseca as part of the Essential Wisdom Series, the trusted source of actionable technical and marketplace knowledge…

New DOL Rules on Disability Claims May Impact Retirement and Deferred Compensation Plans.

Topics: DOL, Qualified Plans, Regulation

New DOL rules became effective on April 1, 2018 regarding claims procedures for disability benefits offered in employee benefit plans. The rules apply not only to long-term and short-term disability plans, but may also apply to 401(k) and other qualified retirement plans, as well as non-qualified deferred compensation plans and SERPs. The new rules provide…

State Auto-IRA Update- Congress Acts to Block DOL Rules Allowing State & Local Government Sponsored Retirement Programs

Topics: DOL, IRAs, Regulation

Automatic IRAs allow employees to make contributions to an IRA run by a state or certain local subdivisions with automatic payroll deductions made and submitted to the state/locality by the employer (“State Auto-IRAs”). In 2016, the DOL issued regulations that provide State Auto-IRAs with a safe harbor exemption from ERISA requirements, while similar, private payroll…