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On April 23, the Department of Labor announced it had finalized its Retirement Security rule to "protect the millions of workers who are saving for retirement diligently and rely on advice from...
"The regulation closes the loophole for one-time advice," said the U.S. Department of Labor Fact Sheet. The Retirement Security Rule broadens the definition of a fiduciary to include any financial ...
Morningstar, Inc. estimates that participants in workplace retirement plans could save as much as $55 billion in the coming ten years thanks to the Retirement Security Rule.
The SECURE 2.0 Act was drafted to assist in saving and investing for retirement. To that end, it contains a number of provisions to incentivize retirement planning, diversify the options available to savers, and increase access to tax-advantaged savings programs. Several of these provisions do not take effect until later years.
The Employee Retirement Income Security Act of 1974 (ERISA) (Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry.
The Employee Benefits Security Administration (EBSA) is an agency of the United States Department of Labor responsible for administering, regulating and enforcing the provisions of Title I of the Employee Retirement Income Security Act of 1974 (ERISA).
A U.S. judge has blocked a Department of Labor rule from taking effect that would have expanded the types of retirement advisers who are considered fiduciaries, finding the rule was arbitrary and ...
If you file a federal tax return as an individual and your combined income — your adjusted gross income, plus nontaxable interest you have earned on investments, plus one-half of your Social ...