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Regional Vice President of Sales The Retirement Plan Company
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Federal Register: DOL Final Regs on Application of ERISA to Investment Advice Provided on Level-Fee Basis or Using Computer Model
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] [Official Guidance] Oct. 25, 2011
Finalizes regulations proposed in March 2010 implementing a PPA 2006 provision that allows advisers to receive fees from investment providers selected by participants to whom advice is given through use of a computer model certified as unbiased by an independent expert, or if the fees are paid on a level-fee basis, meaning that they do not vary based on the investments selected. These regulations do not affect the proposed regulations on the definition of fiduciary investment advice, which the DOL recently announced that it will re-propose.
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