rollovers Archives

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

May 10, 2022

Best Interest Standard of Care for Advisors #89: Rollovers and the Information That Is Needed About the Participant

Key Takeaways The DOL’s expanded definition of fiduciary advice was 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 One of the conditions for relief is that a recommendation be in the best interest

May 2, 2022

Best Interest Standard of Care for Advisors #88: Specific Reasons for Rollover Recommendations That Won’t Work (Part 2)

Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice, particularly for rollover recommendations. The DOL’s expanded definition of fiduciary advice was described in the preamble to PTE 2020-02. The PTE then provides relief for conflicted non-discretionary recommendations (for example, rollover

April 25, 2022

Best Interest Standard of Care for Advisors #87: Specific Reasons for Rollover Recommendations That Won’t Work (Part 1)

April 18, 2022

Best Interest Standard of Care for Advisors #86: Information Needed for Rollover Recommendations

April 11, 2022

Best Interest Standard of Care for Advisors #75: Compliance with PTE 2020-02: Mitigation of Conflicts (Part 2)

The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 16, the DOL discusses the requirements to have policies and procedures to mitigate conflicts of interest. The mitigation requirement

November 30, 2021

Best Interest Standard of Care for Advisors #74: Compliance with PTE 2020-02: Mitigation of Conflicts (Part 1)

November 23, 2021

Best Interest Standard of Care for Advisors #73: Compliance with PTE 2020-02: IRA “Rollovers” Are Covered by the Rule, But What is an IRA?

This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary definition and the exemption for conflicts of interest. Key Takeaways The DOL’s PTE 2020-02

November 16, 2021

Best Interest Standard of Care for Advisors #72: Compliance with PTE 2020-02: Factors to Evaluate for Recommendations to Change Account Types (Part 7 on FAQ 15)

November 9, 2021

Best Interest Standard of Care for Advisors #71: Compliance with PTE 2020-02: Further Extension of Non-Enforcement Policy

This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This article looks at the Department of Labor’s recent extension of its non-enforcement policy regarding the conditions of Prohibited Transaction Exemption 2020-02….if the Impartial Conduct Standards are satisfied. Key Takeaways PTE 2020-02—sometimes referred to as

November 2, 2021

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