Okay, you have accepted the invitation to become a fiduciary for your company’s retirement plan. Now what? Here’s a simple rule to follow: As a plan fiduciary, you must always act in the best interest of the plan’s participants and their beneficiaries. No exceptions!
The process to approve a new Fiduciary Rule by the Department of Labor is proving to be more of a marathon than a sprint. On August 9, 2017, the Department of Labor requested to delay review and applicability of the long-awaited fiduciary rule until July 1, 2019. Here we unpack what led to this, what it means for you, and what direction we can most likely expect things to go next.
Last week President Trump halted implementation and enforcement of the new DOL Fiduciary Rule scheduled to take effect in April. What does this mean for your company and employees?
