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Retirement Plans Newsletter

October 31, 2023


[Guidance Overview]

White House Fact Sheet on New Actions to Protect Retirement Security

"Specifically, the rule would: Close loopholes so that recommendations to purchase any investment product must be in the savers' best interest.... Cover advice to roll assets out of an employer-sponsored plan like a 401(k).... Cover advice to plan sponsors about which investments to make available as options in 401(k)s and other employer-sponsored plans."  MORE >>

Executive Office of the President

[Guidance Overview]

DOL Seeking to Add One-Time Rollover Advice to Fiduciary Standard

"[A] new rule proposal [will] require rollover advice be in the best interest of the saver ... The proposal would also apply a best interest standard to advice that plan sponsors receive about which investments to include in 401(k) and other employer-sponsored plan lineups.... The proposal ... would align with the [SEC's] Regulation Best Interest ... [T]he department is amending the five-part test to cover one-time rollover advice."  MORE >>

Pensions & Investments

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BenefitsLink® Retirement Plans Newsletter, ISSN no. 1536-9587.

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