The DOL changed the original ERISA definition of Fiduciary to exempt marginal players. Those players are no longer marginal.
Interviews
As bad a some industry players are, it’s always caveat emptor. Both plan sponsors, in their role as fiduciaries, and 401k investors must assume personal responsible and be accountable for their own retirement.
In choosing ratings points over debate points, Smith sacrificed the logic of the straight-forward for the pyrotechnics of a religious argument, and, in doing so, lost credibility with that portion of his audience that knew better.
In that drive for ratings points, producers often – willingly or unwillingly – must make a pact with the devil.
If they only stayed on the straight and narrow path, they would have proved their point.
In many ways, the fallout of the Merrill Rule made this debate what it is today.
Here’s a quick overview of the most important facts surrounding key regulatory laws and rules, with some practical legal advice thrown in.
The adage you can’t serve two masters is as old as the Bible. So why are 401k plan sponsors making this mistake and why is the DOL allowing them to do so?
