The Trump administration wants to give a shot in the arm to annuities in 401(k) plans by encouraging rules to make it more palatable for plan sponsors to offer such products.
The DOL issued its Conflict of Interest FAQs during this seemingly never ending process of applying the new fiduciary law.
Here we discuss the House passed Financial CHOICE Act as it aims to dismantle a number of Dodd Frank provisions.
Here is the link to the DOL’s complete bulletin regarding the temporary enforcement policy.
The Fiduciary Rule will go into partial effect on June 9th without further delay.
This is the link to an article in which Philip Chao is quoted regarding Fidelity’s approach to the new Fiduciary Rule.
On May 04, 2017, the IRS announced the 2018 inflation-adjusted amounts for Health Savings Accounts. The following is a comparison of the 2017 and 2018 limits.
As expected, the DoL has issued the 60-day extension to the application of the Fiduciary Rule just in time before the new rule’s April 10th application date. This writing offers a pre-release copy of the extension.
Chief Judge Barbara Lynn of the Northern District of Texas granted motion for summary judgment in favor of the Fiduciary Rule and BICE.
President Trump has instructed the Secretary of the DOL to rescind or revise the fiduciary rule after conducting an impact study. We have laid out where we go from here.
Here is the updated FAQ released by the DOL on their conflict of interest rule.
Here is the updated FAQ document from the DOL regarding its Conflict of Interest Rule.
Using revenue generated from investment vehicles to offset retirement expenses is a fiduciary decision, and far too many plan sponsors are not aware of the decision being made on their behalf. Unsuspecting plan sponsors believe that their retirement plan is “free” while all along the plan is paying all expenses through the use of revenue paying investment vehicles.
Philip Chao’s public comment letter to DOL re: “fiduciary” definition.