A Closer Look at the DOL’s Proposed Rollover Rule
December 8, 2023 by Allison Bell
The Department of Labor on Oct. 31 released a proposed rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act, along with proposed amendments to class prohibited transaction exemptions available to investment advice fiduciaries, including PTE 2020-02, aka the “rollover rule.”
I recently spoke with my colleague Joe Antonakakis to learn more about the proposed rule. He said the amendments reaffirm the DOL’s commitment to ensuring that fiduciary investment advice is provided in retirement investors’ best interest.
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