Subscribe Now!
Free Daily News, Jobs, Webcasts, Discussions
Post and Distribute
Your Jobs
ARPA News
ARPA Webcasts

Featured Jobs

Retirement Plan Consultant / Relationship Manager

Associated Pension Consultants
(Chico CA / Sacramento CA)

Associated Pension Consultants logo

Plan Document Specialist

Jocelyn Pension Consulting
(Telecommute / Boulder CO / San Rafael CA)

Jocelyn Pension Consulting logo

Retirement Plan Administrator

RSW & Associates
(CT / NJ / NY)

RSW & Associates logo

DB/DC Administrator

Primark Benefits
(Telecommute / Burlingame CA)

Primark Benefits logo

Retirement Plan Administrator

Bates & Company
(Telecommute / Winter Park FL)

Bates & Company logo

Retirement Plan Administrator (Account Manager)

Kushner & Company
(Telecommute / Portage MI)

Kushner & Company logo

Product Support Consultant

ftwilliam.com part of Wolters Kluwer Legal & Regulatory
(Telecommute)

ftwilliam.com part of Wolters Kluwer Legal & Regulatory logo

Retirement Plan Administrator

My Benefits, LLC
(Telecommute / Daphne AL / Atlantic Beach FL)

My Benefits, LLC logo

401(k) Consultant

TPS Group
(Telecommute / North Haven CT)

TPS Group logo

Director of 401(k) Implementation, Core

Human Interest
(Telecommute / Mill Valley CA)

Human Interest logo

401(k) Implementation Manager

Human Interest
(Telecommute / San Francisco CA)

Human Interest logo

DB Retirement Plan Administrator

The Nolan Company
(Telecommute / Overland Park KS)

The Nolan Company logo

Director of Finance

NYCDC of Carpenters Benefit Funds
(New York NY)

Employee Benefits/Health and Welfare Attorney

Miller Johnson
(Telecommute / Grand Rapids MI / Kalamazoo MI / Detroit MI)

Miller Johnson logo

DC Retirement Plan Administrator

The Nolan Company
(Telecommute / Overland Park KS)

The Nolan Company logo

DC or DB Administrator

Farmer & Betts, Inc.
(Telecommute / Tacoma WA / Tualatin OR / Littleton CO)

Farmer & Betts, Inc. logo

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon
Webcasts  >  Upcoming   |   Recorded
Conferences  >  Upcoming   |   Grouped by Location
Combined  >  Upcoming   |   Recorded or Upcoming

View More Faegre Drinker Webcasts and Conferences

Talking Through the DOL's Proposed Prohibited Transaction Exemption, Episode 2: A New Interpretation of Fiduciary Conduct

Faegre Drinker

July 15, 2020
Recorded Online
Webcast

On June 29, the Department of Labor (DOL) issued a proposed prohibited transaction exemption, filling the void left when the Fifth Circuit vacated the Obama-era 2016 DOL regulation in 2018. While the new proposed rule is primarily a class exemption that harmonizes ERISA conditions for receiving commissions and other variable compensation with existing securities law standards, it also does a lot more.

In this podcast episode, Faegre Drinker’s Jim Jorden and Brad Campbell focus on the proposed rule’s lengthy — and unusual — preamble, which articulates a whole new interpretation of fiduciary conduct, including defining rollover recommendations as fiduciary advice.

In this recording, Jim and Brad provide context, insight and actionable advice for stakeholders on the following questions (and more) related to this substantial preamble to the DOL’s proposed rule.

  • The preamble details how the “regular basis” component of the five-part test for the investment adviser definition can be met. How does that interpretation differ from previous understandings of this component? What does it mean for rollover recommendations? And does this new interpretation conflict with judicial interpretations of such conduct?
  • The preamble also notes that both the financial institution and investment adviser must disclose that they are “fiduciaries” and provide various disclosures. It also notes that most insurance companies pay their agents on a commission basis, and that some agents are independent and some are employees. What issues emerge from this dynamic, especially as it pertains to the need to document specific reasons why any recommendation to rollover assets from one plan to another is in the best interest of the retirement investor?
  • The earlier DOL fiduciary rule exemption contemplated a form of contract with the ERISA plan participant, which gave rise to concerns about litigation over the terms of such a contract. How does the new proposal address this issue?

More Information, How to Register

© 2021 BenefitsLink.com, Inc.