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WASHINGTON — The White House on Tuesday announced that the Department of Labor will propose a new rule that aims to protect retirement security and combat junk fees.. If finalized, the rule ...
The Retirement Security Rule broadens the definition of a fiduciary to include any financial service provider who is compensated to provide advice to individual retirement account owners ...
The Retirement Security Rule broadens the definition of a fiduciary to include any financial service provider who is compensated to provide advice to individual retirement account owners ...
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 rule, unveiled in April as the "Retirement Security Rule," was challenged by insurance groups who argued it conflicted with ERISA, or the Employee Retirement Income Security Act.
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...