Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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New York City District Council of Carpenters Benefit Funds
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Retirement Solutions Specialists
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Fringe Benefit Group
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Defined Contribution Account Manager Nova 401(k) Associates
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Pollard & Associates
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Defined Benefit Consultant/Enrolled Actuary Pension Plan Specialists, PC
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Greenline Wealth Management
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Great Lakes Pension Associates, Inc.
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Retirement Planners and Administrators (RPA)
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Senior Specialist 401k Recordkeeping T Bank N.A.
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DOL Official Sheds Light on Rollover Recommendations
American Retirement Association [ARA] July 28, 2021 "Key Takeaways [from a discussion with Tim Hauser of EBSA:] [1] Suggesting investments that could occur after a rollover is tantamount to recommending a rollover, and if it meets the rest of the five-part test will constitute fiduciary advice, regardless of how it's phrased. It doesn't require the 'magic words.' [2] Rejection of the Deseret letter was the [DOL's] attempt to 'level the playing field' between advisors outside the plan and plan advisors with regard to rollovers. [3] 'Regular' basis at present isn't a function of frequency, but rather a reasonable expectation of an ongoing relationship. [4] A revisit of the fiduciary rule is on the agenda, but it would follow a notice and comment period." |
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