Mixed reviews on dual IRS/DOL announcement; Surveys indicate 401k plan sponsors might be in for an awful surprise; and, is the Annuity the financial industry equivalent of the Chevy Volt?
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Lesson: Always read the fine print. If it’s too good to be true, it usually is.
This was the week we were all waiting for from the DOL. What we didn’t expect was the surprise from the IRS and the bipartisan agreement from two former SEC chairmen.
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?
Even as the noose tightens on 401k fees, the DOL increases fiduciary liability with its new Investment Advice Rule. And, just what is going on at Ameriprise?
FiduciaryNews Trending Topics for ERISA Plan Sponsors: Week Ending 2/24/12
The Fiduciary Battle reignites while the Fee Wars heat up, investors search for fixed income and states look to dump pensions and go the 401k route.