Investment Pros Can Guide Retirement Plan Members: DOL

Law360, New York (October 24, 2011, 6:16 PM EDT) -- The U.S. Department of Labor issued a final rule Monday allowing fiduciaries to provide guidance to retirement plan participants and collect fees from investment providers, a move that the agency says could help stave off investment mistakes that cost plan participants billions of dollars per year.

The final rule, which came from the DOL's Employee Benefits Security Administration and will be published in the Federal Register on Tuesday, implements a change to the prohibited transactions provisions of the Employee Retirement Income Security Act and the Internal...
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