DOL moving forward on fiduciary rule
Labor Department officials are determined to produce a new standard of fiduciary duty for anyone giving retirement investment advice, once they process concerns raised in thousands of comment letters and four days of hearings on their proposal.
Speakers encourage fiduciary role for advice on DC lump sums, IRA rollovers
People giving advice to defined contribution plan participants about lump-sum distributions and rollovers to individual retirement accounts should be covered by a new fiduciary standard, several speakers said Wednesday at a Department of Labor hearing on the proposed rule.
DOL Fiduciary Re-Proposal Fires Up Foes, Supporters, as They Brace for Battle
Opponents and supporters of the Department of Labor’s fiduciary rule began gearing up for battle as soon as President Barack Obama said that he was throwing his support behind it.
Public Interest Organizations Join Forces to Protect Americans’ Retirement Savings
SaveOurRetirement.org will educate workers and retirees about the “Retirement Advice Loophole” – and mobilize public support to close it Washington — A broad range of national public interest organizations have joined forces in a new campaign to protect Americans from the “Retirement Advice Loophole” that can drain away thousands of dollars of hard-earned savings from […]
Retirees Suffer as 401(k) Rollover Boom Enriches Brokers
Kathleen Tarr says AT&T Inc. employees looked to her as “their de facto 401(k) expert.” Visiting their homes and offices, she advised them on their retirement plans as they called up balances on computer screens. Actually, Tarr worked for Royal Alliance Associates, a brokerage firm owned by insurer American International Group Inc. (AIG). She encouraged […]