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What is the Fiduciary Standard of Care?
In the third of his four-part series on questions raised by the 5th U.S. Circuit Court of Appeals’ decision to vacate the DOL fiduciary rule, noted ERISA attorney Fred Reish examines the fiduciary...
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Standards of Care: BICE Versus Reg BI
How does the best interest standard of care in the SEC’s Regulation Best Interest compare to the standard of care in the DOL’s Best Interest Contract Exemption (BICE)? Well, having previously outlined...
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How Do B/D & RIA Standards of Care Differ?
The SEC’s proposed Regulation Best Interest (“Reg BI”) for broker-dealers and the Interpretation Regarding Standard of Conduct for Investment Advisers both have a best interest standard of care – that...
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Plan Advisors Face Litigation Landmines
Advisors are increasingly being pulled into 401(k) plan litigation under novel theories of liability and need to pay extra attention in documenting their actions, a prominent ERISA attorney told...
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IRS Okays Amending a 401(k) Plan to Include a Student Loan Benefit Program
The IRS has said that a 401(k) plan can be amended to include a student loan benefit program. In private letter ruling (PLR) 201833012, dated May 22 and released Aug. 17, the employer in question had...
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Retirement Income Projections: Best Practices
In his most recent blog post about best practices, ERISA attorney Fred Reish explores retirement income projections as a way to better serve plan participants. Reish explains why he includes retirement...
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DOL, SEC Set Targets for Fiduciary, Advice Rulemaking
The federal government’s updated unified regulatory agenda has shed light on the status of the Securities and Exchange Commission’s and Department of Labor’s efforts on investment advice and the...
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5 Things That (Should) Scare Plan Fiduciaries
Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. But what are the things that keep – or should keep – plan fiduciaries...
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What Does ‘Best Interest’ Mean?
“Best Interest” has become part of the American lexicon… as an aspirational goal or a demanding standard — depending on the point of view. But, what does best interest mean? In a recent blog post,...
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Benartzi: Do You Consider Yourself a ‘Digital Fiduciary’?
Given the increasing influence that digital design can have on retirement savings decisions, plan sponsors and advisors may want to assess their “digital fiduciary” role, writes behavioral scientist...
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