If you’re confused—and overwhelmed—about the Department of Labor’s (DOL) latest proposed rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA), you’re not alone. 
The Biden Administration officially unveiled the Retirement Security Rule to great fanfare in a White House Ceremony on Oct. 31, 2023. It notably includes a requirement that 401(k) plan-level protection extends to small business owners and participants, something for which the American Retirement Association (ARA) strongly advocated.
But where does one begin, and how do they ensure they’re not inadvertently tripped up? What, specifically, does it mean for retirement plan advisors, sponsors, and participants?
The ARA’s Kelsey Mayo, Director of Regulatory Affairs, and Allison Wielobob, General Counsel, will host an insightful webcast that delves into the complexities of the DOL’s most recent proposals related to fiduciary investment advice. The presentation, Navigating the ERISA Fiduciary Advice Proposal, will cover critical aspects of the proposal and its potential implications.
“Highly anticipated, a release this significant should be reviewed carefully,” Wielobob said. “Considering that we’ve lived with the existing PTE 2020-02 and related guidance from the Department, a lot about complying with the amended PTE will be familiar. This may be said even with the proposal’s enhanced disclosure requirements.”
She added that the ARA will offer a few webinars on the proposal, tailored to the concerns of our assorted member organizations. They will compare the Department of Labor’s current proposal to the traditional "five-part test" for fiduciary status.
“Once again, the retirement world is facing new rules, and it is important to understand how they might impact everything from participant education to rollovers,” she emphasized.
Whether you’re a financial advisor, consultant, or anyone involved in retirement planning, this webcast is a must-attend to stay informed and enhance your proficiency in navigating the ERISA Fiduciary Advice Rule. Don’t miss this opportunity to sharpen your expertise and better serve your clients confidently.
Specifically, you’ll:
- Learn how to navigate the fiduciary advice proposal.
- Explore potential compliance challenges.
- Understand opportunities and objectives for comments.
One continuing education credit will be earned from the event. Questions? Reach out to Customer Care.
For more information, and to register, click here.
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