In late April the Department of Labor (DOL) released the Retirement Security Rule, generally referred to as the “fiduciary rule.”  Nevin (Adams) and Fred (Reish) take a look at what’s changed —what hasn’t—and what it all means for retirement plan advisors.

This now-final rule updates and broadens the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC).  In this new podcast episode, theprolific podcasting pair ponder:

The impact(s) to retirement plan advisors who are already ERISA fiduciaries, and compliant with PTE 2020-02,

How the five-part test has changed,

The implications of the so-called “Hire Me” exception,

What changes to the “regular basis” criteria mean to the “drive-by” plan sale to plan sponsors.