The 5th Circuit Court of Appeals ruled on March 15 that the Department of Labor overstepped its bounds in creating the so-called fiduciary rule, parts of which went into effect last year.Read More
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The Fiduciary Rule applies mostly to private sector retirement plans, such as 401(k)s, SEPs, SIMPLEs, and 403(b) plans that fall under ERISA. The administration believes the rule is needed because conflicts of interest are causing 401(k) participants and IRA owners to pay higher fees, resulting in smaller account balances.Read More