Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
October 25, 2010
New Rule Defining ‘Fiduciary’, Proposed by EBSA

A new rule proposes to update the definition of "fiduciary" to more broadly define the term as a person who provides investment advice to plans for a fee or other compensation. The Department of Labor's Employee Benefits Security Administration (EBSA) published this proposed rule in the Federal Register last week.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

According to the proposal, the current rule's approach to fiduciary status may inappropriately limit the department's ability to protect plans, participants, and beneficiaries from conflicts of interest that may arise from today's diverse and complex fee practices in the retirement plan services market.

The proposed rule would alter this limitation, and protect plan officials and participants who expect unbiased advice, by giving a broader and clearer understanding of when individuals providing such advice are subject to ERISA's fiduciary standards, according to the EBSA press release.

More information on this proposed regulation is available on EBSA's website.

Related articles:

Exemption Procedure Update
Pension Distribution Final Rule Issued by DOL

Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
Copyright © 2018 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: