Best Interest Standard of Care for Advisors #90: Rollover Recommendations to Participants in Defined Benefit Plans
Key Takeaways The DOL’s expanded definition of fiduciary advice is described in the preamble to PTE 2020-02. The PTE then provides relief for conflicted non-discretionary recommendations (for example, rollover recommendations), if its conditions are satisfied. While most rollover discussions are about recommendations to participants in 401(k) and 403(b) plans, the fiduciary definition is broader than […]