How Has the DOL’s Fiduciary Rule Affected Plan Sponsors?
What has changed with the U.S. Department of Labor’s (DOL) final regulations and certain prohibited transaction exemptions (PTEs)? Is it really that bad even for plan sponsors, as we hear from the many critics of the DOL’s newest definition of a fiduciary? It may or may not be, depending in part on whether investment fees will increase for the additional duties and liability placed on investment advisers. Plan sponsors will, however, have to make some changes and review their service agreements and any applicable prohibited transaction exemptions they are relying on.
