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401(k) Annuities

167 posts
Jason Berkowitz, IRI
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IRI’s Jason Berkowitz: Why Biden’s Fiduciary Rule Gets it Wrong

The American Retirement Association approves the Department of Labor's latest ERISA fiduciary definition update, while insurers dispute its necessity, labeling it a regulatory overreach on investment advice. Jason Berkowitz from the Insured Retirement Institute outlines significant issues with the proposed ERISA changes, critiquing both the policy and President Biden's recent statements on the retirement sector. Berkowitz examines the five-part test and Prohibited Transaction Exemptions' effects on ERISA fiduciaries, reflecting the lifetime income industry's regulatory stance.