Tag: ROLLOVER; PTE 2020-02; department of labor; fiduciary; qualified retirement plan; justifying ira rollovers
-
Fiduciary Papers #17: WHY THE INSURANCE LOBBY’S ARGUMENTS AGAINST THE DOL RULE ARE DISINGENUOUS
The insurance lobby is against the imposition of the fiduciary standard by the DOL, as it will lower the excessive commissions often paid on the sale of Fixed Index Annuities (and other annuities) – and lead to less sales for the insurance companies. In essence, it will upend the distribution channel, as you transform annuities…
-
Despite the Feb. 13, 2023 Court Decision, IRA Rollovers Still Should Be Justified; Here’s How
In a February 13, 2023 decision from the U.S. District Court, Middle District of Florida, a portion of the U.S. Department of Labor’s Prohibited Transaction Exemption (PTE) 2020-02, which led to the adoption by firms of new policies and procedures relating to rollovers from qualified retirement plans (and IRAs) to IRA accounts, was struck down…