News & Analysis as of

Individual Retirement Account

With the Tip of a Hat, a Fund Manager Can Be an ERISA Fiduciary

by Winstead PC on

It’s official. The Department of Labor’s final conflict of interest regulation became applicable on June 9, 2017. Despite the consternation leading up to the issuance of this rule and the expectations of many that the rule...more

The Department of Labor’s New Fiduciary Rule: Frequently Asked Questions for Private Fund Advisers

by Jackson Walker on

Core elements of the U.S. Department of Labor’s controversial new fiduciary investment advice rule (the “Fiduciary Rule”) became effective on June 9, 2017, despite President Trump’s February 3, 2017 memorandum ordering...more

Finally in Play: A Refresher on the Fiduciary Rule for Plan Sponsors

by Akerman LLP - HR Defense on

On the heels of Labor Secretary Alexander Acosta’s announcement that the Department of Labor’s oft-delayed “Fiduciary Rule” would finally take effect on June 9th, Congressmen introduced new legislation on June 8th to overturn...more

The DOL’s Fiduciary Rule Takes Effect Without Further Delay

The Secretary of Labor, John Acosta, announced recently that no further delays will apply to the Department of Labor’s new Fiduciary Rule on investment advice conflicts of interest and related prohibited transaction...more

Fiduciary Rule: June 9 & Beyond

On May 22, Department of Labor (DOL) Secretary Alexander Acosta announced that, despite President Trump’s memorandum ordering further analysis of the fiduciary investment advice rule (Fiduciary Rule), there was no legal...more

DOL Fiduciary Rule: Love It or Hate It, It’s Here

by Bowditch & Dewey on

If you have an account in a retirement plan where you work or you own an Individual Retirement Account, you may get investment advice from an investment advisor. You might expect that advisor to give you advice that was in...more

Estate planning during divorce: It’s never too early to start

by Thompson Coburn LLP on

Estate plans prepared for married couples will vary in complexity and detail but generally follow the same theme: The revocable trust or will typically provides that upon the death of the first spouse, the surviving spouse...more

ERISA Fiduciary Rule Impact on Unregistered Investment Funds

by Goodwin on

ERISA imposes stringent conduct standards (and potential liability) on any person who acts as a “fiduciary,” a term that includes a person who renders “investment advice” to an ERISA plan or an IRA. The DOL has issued a...more

Is a charitable IRA rollover a viable option?

For those age 70½ or older who plan to make charitable donations this year, qualified charitable distributions from an IRA, also known as charitable IRA rollovers, can provide significant tax benefits. This article details...more

DOL Fiduciary Rule Taking Effect June 9 Is Low-Calorie, But Still Hard for Some to Swallow

by Cozen O'Connor on

Though many in the financial services industry were hoping for a reprieve, anyone who receives compensation for providing investment advice in connection with an ERISA plan or IRA will be considered a fiduciary effective June...more

Spotlight on Alabama: New Law Extends Creditor Protections for Certain Retirement Account Assets in Alabama

by Baker Donelson on

On May 18, Governor Kay Ivey signed Act 2017-317 (the "Act") into law. The Act amends the provisions of the Alabama Uniform Trust Code, which provide creditor protection for various types of tax-preferred retirement accounts...more

Insight on Estate Planning - June/July 2017

The sandwich generation: A slice of life - Do you feel like you’re pulled between the pressing needs of your elderly parents and your own children? If so, you’re part of the “sandwich generation,” the term coined to...more

Update On DOL Fiduciary Rule

As is generally the case with other recent and pending federal regulations, the ultimate fate of the United States Department of Labor’s revised rule on who is considered a "fiduciary" for retirement plan, IRA, HSA and other...more

ERISA's Fiduciary Rule – Not Dead Yet, Not Dead . . . Ever?

by Dechert LLP on

It has been a long and winding road for the amended fiduciary regulation (the "Regulation") of the U.S. Department of Labor (the "DOL") under the Employee Retirement Income Security Act of 1974 ("ERISA"). The highly...more

DOL’s Fiduciary Rule To Apply June 9th, Investment Managers and Advisers May Want to Take Action Now

by Proskauer Rose LLP on

The U.S. Department of Labor's (DOL) final rule significantly expanding when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) as a...more

DOL’s Fiduciary Rule to Become Partially Effective June 9, 2017

The Fiduciary Rule, which expands the circumstances under which providers of investment advice may be considered Employee Retirement Income Security Act of 1974 (ERISA) fiduciaries, was initially published in the Federal...more

Fiduciary Rule ? No Further Delays

by K&L Gates LLP on

Three items of key importance with respect to the Department of Labor’s (“DOL”) rule changing the definition of the term “fiduciary” (the “Fiduciary Rule”) happened on May 22, 2017: 1. Secretary of Labor Alexander Acosta...more

Collection of Funds in Individual Retirement Accounts: Are They Really Exempt?

by Clark Hill PLC on

This article explores the assumption that IRAs are fully exempt from attachment by judgment creditors. Recently, Clark Hill argued that a judgment debtor's use of IRA funds for purposes that were not intended by Illinois...more

DOL Signals the Fiduciary Rule Will Become Final

The Department of Labor (DOL) has now made clear that it intends for its controversial “Fiduciary Rule” to become effective on June 9, 2017. The Fiduciary Rule expands the definition of “fiduciary investment advice” under...more

No Delay of DOL Fiduciary Rule’s June 9 Applicability Date; Additional Guidance Issued

by McGuireWoods LLP on

Earlier this week, Secretary of Labor Alexander Acosta indicated in a Wall Street Journal op-ed article that there will be no further delay as to the parts of the fiduciary rule issued by the Department of Labor (DOL) that...more

Department of Labor’s New Fiduciary Rule Will Go Into Effect June 9th

The Department of Labor has announced that the new fiduciary conflict of interest rule and related exemptions will begin taking effect on June 9, 2017, ending speculation of further delay. At the same time, the Department...more

What Phyllis Borzi got wrong

by Ary Rosenbaum on

It’s been about 4 months since Phyllis Borzi left her position as the head of the Employee Benefit Security Administration (EBSA) and as time passes by, we can certainly opine on her accomplishments in that position. Of...more

A Guide To: Challenging Beneficiary Designations in Michigan

by Clark Hill PLC on

Most individuals own assets that will pass upon the death of that individual pursuant to a beneficiary designation. In fact, in many instances, these types of assets make up a large portion of an individual's net worth....more

ERISA Fiduciary Standards Will Apply to IRAs Starting in June

by Hinshaw & Culbertson LLP on

On April 4, 2017 the U.S. Department of Labor issued an order effective April 9, 2017, stating that implementation of the so-called investor Fiduciary Rule applicable to Individual Retirement Accounts will go into effect June...more

The Real Reasons You Should Use Roth 401(k) or a Roth IRA

by Alston & Bird on

Roth 401(k) can be a powerful option for your employees to save for retirement, but not for the reasons that are most often cited. This article explains why your 401(k) plan should have a Roth option, and why some of your...more

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