The retirement industry will be keeping a close eye on the Department of Labor (DOL) in August in anticipation of proposed regulation regarding its fiduciary rule, and whether or not a retirement plan-to-IRA rollover recommendation made by an advisor who is a fiduciary to a plan or participant constitutes a fiduciary act, necessitating the use of Prohibited Transaction Exemption (PTE) 2020-02.
To help us sort out what’s going on with the DOL’s fiduciary rule, we can think of no better source than noted ERISA expert and Faegre Drinker Partner Fred Reish.
In this edition of the 401(k) Specialist Pod(k)ast, Reish provides an overview of the PTE 2020-02 issue, what approach he thinks the DOL may take, provides a timeline for the regulation and some key thoughts on what this all means for retirement plan advisors.
Listen to All 401(k) Podcast Episodes
- How Company Mergers Affect Retirement Plans with Inspira Financial’s Pete Welsh
- Opportunity in the SMB Market with Sean Jordan, Principal Financial Group
- The Road to Better Retirement Outcomes with MFS’ Jeri Savage
- Highlighting Fixed Income Opportunities with Invesco’s Matt Brill
- Solving the Portability Puzzle with Allianz Life’s Ben Thomason
- Fiduciary Rule Update and ERISA at 50 with Lathrop GPM’s Allie Itami
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
