DOL Plans On Fiduciary Definition Captivate LIMRA Audiences
May 3, 2022 by John Hilton
TAMPA–Opinions are mixed here on whether the Department of Labor will pursue a strict fiduciary standard that would rope in retirement plan sales of insurance products.
Officially, it is expected that the DOL will deliver a new fiduciary rule definition any day. Those plans were laid out in a previous department regulatory agenda.
“Our expectation is they’re going to want to move in the direction they did in 2016 and find a way to make it happen,” said Jim Szostek, vice president and deputy, retirement security for the American Council of Life Insurers.