With a New Administration, Will the Department of Labor’s Fiduciary Rule Once Again be Revised?

Posted on: November 20, 2020 By:

The Department of Labor’s (the “DOL”) attempts to regulate the conduct of fiduciaries under ERISA and the Code has been mired in controversy.  In 2010, the Obama administration’s DOL proposed a fiduciary regulation that was met with so much criticism that it was subsequently withdrawn in 2011.  In 2015, the DOL re-proposed a fiduciary regulation that imposed a fiduciary standard on financial advisors giving clients advice about their retirement plan investments.  The DOL issued final regulations and the final rule was being implemented when it was struck down by a federal appeals court in June 2018.

In June 2020, the DOL proposed a new fiduciary rule which significantly revises the Obama administration fiduciary rule.  Read More ›

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New Year, New Age: the SECURE Act Increases the Required Minimum Distribution Age to 72

Posted on: January 10, 2020 By:

On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020, a spending bill that includes the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”).  The SECURE Act initially passed the House in May, as discussed in our S&W Benefits Blog “The SECURE Act – A Primer on the top Six SECURE Act Changes that could be coming to Retirement Plans Next Year”, but fizzled out in the Senate.  The SECURE Act was later added to the Further Consolidated Appropriations Act, 2020, which passed Congress and was sent to the White House on December 19. Read More ›

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