Following previous failed attempts to expand the fiduciary liability of financial services providers, the DOL released a new rule that broadens the definition of “fiduciary” under ERISA. The new rule is expected to face...more
5/3/2024
/ 401k ,
Benefit Plan Sponsors ,
Compliance ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Duty of Care ,
Duty of Loyalty ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Investment Management ,
Liability ,
New Regulations ,
Securities and Exchange Commission (SEC)
On July 1, 2014, the Internal Revenue Service (“IRS”) issued final regulations (“Final Regulations”) that permit employers and IRA providers to offer “qualified longevity annuity contracts” or “QLACs” under defined...more