Tag: Retirement Security Rule
Retirement Savers Should Be Protected Against Costly Financial Advice – Especially for Rollover IRAs
But courts block effort to curtail conflicts of interest. In October 2023, President Biden announced that the Department of Labor (DOL) would propose a new rule to protect people saving for retirement against conflicted advice. Under the current state of play, DOL regulations regarding advice to employer-sponsored plans are governed by ERISA’s fiduciary rule, whic…
Protecting savers from rollovers to IRAs with high-fee mutual funds is particularly important. President Biden has announced that the Department of Labor will propose a new rule – the Retirement Security Rule – to extend fiduciary standards and close loopholes to protect people saving for retirement against conflicted advice. Ensuring that financial advisers make recommendations…
