Season 6 Episode 3 (click here)
On March 12, Judge Jeremy D. Kernodle in the US District Court for the Eastern District of Texas approved a motion to vacate the Retirement Security Rule. What does that mean for retirement security?
The motion to vacate – essentially waving a judicial wand to make it as though the regulation never existed – was unopposed by the Department of Labor.
But what does that mean for retirement plan advisors – and retirement plan advice? Is the 5-part rule still in force? What about PTE 2020-02? And what about rollovers?
Nevin (Adams) and Fred (Reish) discuss and debate the “new” fiduciary landscape.
Episode Resources
RIP Fiduciary Rule: Judge Officially Strikes Down DOL Regulation
Trump Administration Moves to Drop Defense of Fiduciary Rule
Breaking! Department of Labor Releases Final Investment Advice Fiduciary Rule