Fred Reish

Fred Reish’s DOL Fiduciary Rule UpdateThe retirement industry will be keeping a close eye on the Department of Labor in August in anticipation of proposed regulation regarding its fiduciary rule, and whether or not a retirement plan-to-IRA rollover recommendation made by an advisor who is a fiduciary to a plan or participant constitutes a fiduciary act, necessitating the use of Prohibited Transaction Exemption 2020-02.To help us sort out what’s going on with the DOL’s fiduciary rule, we can think of no better source than noted ERISA expert and Faegre Drinker Partner Fred Reish.In this edition of the 401(k) Specialist Pod(k)ast, Reish provides an overview of the issue, what approach he thinks the DOL may take, provides a timeline for the regulation and some key thoughts on what this all means for retirement plan advisors.