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To embed, copy and paste the code into your website or blog: Investment Adviser Considerations: The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 4 ) On December 18, 2020, the DOL issued its final prohibited transaction exemption (PTE) that will allow conflicted compensation resulting from nondiscretionary fiduciary investment advice. The PTE is titled “Improving Investment Advice for Workers & Retirees.” The citation is Prohibited Transaction Exemption 2020-02. (https://www.govinfo.gov/content/pkg/FR-2019-...

Wednesday, February 17, 2021 Investment Adviser Considerations: The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 4 ) On December 18, 2020, the DOL issued its final prohibited transaction exemption (PTE) that will allow conflicted compensation resulting from nondiscretionary fiduciary investment advice. The PTE is titled “Improving Investment Advice for Workers & Retirees.” The citation is Prohibited Transaction Exemption 2020-02. (https://www.govinfo.gov/content/pkg/FR-2019-07-12/pdf/2019-12208.p...

The American Retirement Association issued the following news release:. The American Retirement Association, the nation's leading advocacy organization of retirement plan professionals and plan sponsors, commends the decision by the Department of Labor to confirm that its exemption for investment advice fiduciaries will go into effect, as scheduled..

To embed, copy and paste the code into your website or blog: The Employee Benefits Practice is pleased to present the Employee Benefits Developments Newsletter for the month of January 2021.   U.S. Department of Labor Issues Final Prohibited Transaction Exemption Regarding Compensation for Fiduciary Investment Advisers of Retirement Plans and IRAs Consolidated Appropriations Act, 2021 (CAA): Retirement Plan Relief DOL Issues Proxy Voting Regulations for Plan Fiduciaries Retirement Plan Elections/Consents: IRS Extends Temporary Relief From the Physical Presence Requirement for Participant Ele...

To embed, copy and paste the code into your website or blog: On December 15, 2020, the U.S. Department of Labor (DOL) released a final prohibited transaction class exemption for certain fiduciary investment advice actions. Issuance of the exemption is the latest in the tug of war of what began as the DOL’s Fiduciary Rule under the Obama administration. The exemption will become effective 60 days after publication by the DOL unless the Biden administration takes action to delay or modify it. The final exemption is broader than the proposed exemption issued by the DOL [see our client alert, �...