Regulation Best Interest: Rollover Recommendations for Pension Plan Benefits (Rollovers Part 8)
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest Standard of Care for Advisors.”
This is the 8th of my series of articles about rollover recommendations and rollover education under the SEC’s Regulation Best Interest and its Interpretation for Investment Advisers. (For the first seven, see Best Interest for Advisors #’s 15, 16, 17, 18, 19, 20, and 21.)
The first seven of these rollover articles have, by and large, related to rollover recommendations and education for participants in 401(k) plans. But, of course, there are other types of plans…for example, ESOPs, cash balance plans, profit sharing plans, and defined benefit pension plans. This article looks at rollover recommendations to participants in defined benefit plans and concludes that rollover “education” may be the more practical approach.