Hereâs where the greatest controversy of the new Rule, as with its predecessors, comes to a head.
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To make the procedure more agonizing, the transition away from Chevron may feel like death by a thousand cuts. But the snail-like process of the courts has its benefits.
Eliminating the match and investing a large portion of retirement savings in bonds creates a risk. It may cause the retirement savings to go down in flames.
This broader definition of fiduciary may impose a potential hardship on a segment of the retirement industry that has been trying hard to gain a foothold in plan infrastructure.
The DOL seems to use the same metric that it earlier employed in its statement on the Fiduciary Rule. Still, the Advisory Opinion is very precise in what it allows. Citi will have to tread carefully to not cross the line into the realm of fiduciary.
Itâs clear, then, that thereâs a problem. In order how to best come up cure for Covid-related leakage, we have to zero in on exactly when the trouble lies.
The Irony Of Taxing 401k Plans To Save Social Security
Worse, if the âalternativesâ alluded to by the paper entail government backed programs like Social Security, this could have a debilitating impact on encouraging people to be responsible for funding their own retirement.