Dept of Labor Fiduciary Rule Update
The Department of Labor (DOL) recently announced that the more onerous provisions of the Fiduciary Rule, originally scheduled to take effect January 1, 2018, have been delayed until June 30, 2019. The delay does not “roll back” any elements of the existing regulation. As a result, policies and procedures that were instituted in June of this year remain necessary, and in effect. Over the coming months, we expect that the DOL will continue to study whether the rule will have a negative impact on the retirement security of main street Americans, and whether the rule should undergo further changes. Until then, please continue to use PTE 84-24 disclosure paperwork for your life and annuity transactions involving qualified money.
Sample PTE 84-24 Disclosure