The Department of Labor issued a final rule delaying the applicability date of the DOL’s rule defining who is a fiduciary under ERISA and Section 4975 of the Internal Revenue Code in connection with the provision of investment advice and certain related prohibited transaction exemptions (including the Best Interest Contract Exemption and the Principal Transaction Exemption) by 60 days.
News & Insights
120 News Results
The DOL adopted a prohibited transaction class exemption for persons who are fiduciaries under ERISA as a result of providing investment advice.
A DOL class exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and the Internal Revenue Code went into effect on February 16, 2021.
The DOL issued guidance on a February 2021 exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and the Internal Revenue Code.
The White House endorsed Congressional resolutions of disapproval that would nullify two Department of Labor rules related to savings arrangements.