Proposed Retirement Security Rule (RIN 1210-AC02)

The Department of Labor is proposing to protect workers’ retirement savings by updating its regulation defining a “fiduciary” under the Employee Retirement Income Security Act to reflect current practices in the investment advice marketplace. The proposal would specify when fiduciary status is given to a person who gives investment advice for a fee to an investor in a workplace retirement plan (such as a 401(k) plan), an individual retirement account, or other type of retirement plan. The Department is also considering amending prohibited transaction exemptions that establish compliance conditions for investment advice fiduciaries.

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Proposed Amendment to Prohibited Transaction Exemption 2020-02

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Proposed Amendment to Prohibited Transaction Exemption 84-24

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Proposed Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128

These comments will be made available in alternative format to persons with disabilities upon request.