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Posted by studiocenter on Aug 1, 2016

DOL Issues New Fiduciary Rule

On April 8, 2016 the Department of Labor (DOL) issued final guidance that greatly expands the types of retirement investment advice that will be subject to the fiduciary duty rules under the Employee Retirement Income Security Act of 1974 (ERISA). The so-called "conflict of interest" rule for retirement investments will have a significant effect on those who provide investment advice and sell investment products and services to retirement plans and IRAs. The central focus of the DOL guidance is to protect plan participants from conflicts of interest that could threaten their retirement savings.

  • Background
  • Activities Considered Investment Advice
  • Advice Provider Relationship
  • Activities not Considered Investment Advice
  • Providing an Investment Platform for Directed Investment
  • Selection and Monitoring Assistance for Plan Fiduciaries
  • Investment Education
  • Advice Provided by Employees
  • General Communications
  • Best Interest Contract (BIC) Exemption
  • What Plan Sponsors Need to Know

This newsletter is intended to provide general information on matters of interest in the area of qualified retirement plans and is distributed with the understanding that the publisher and distributor are not rendering legal, tax or other professional advice. Readers should not act or rely on any information in this newsletter without first seeking the advice of an independent tax advisor such as an attorney or CPA.

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