DOL may not have the authority over IRAs it thinks it has

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DOL may not have the authority over IRAs it thinks it has

May 08, 2024

United States
United States
United States

Eversheds Sutherland Partner Carol McClarnon is quoted in this PlanSponsorarticle discussing the US Department of Labor's recently finalized Retirement Security Rule, specifically arguing that DOL cannot regulate IRA to IRA rollovers.

In the article, Carol expresses concerns with the DOL imposing  ERISA fiduciary duties on IRA fiduciaries.

“The DOL can issue conditional prohibited transaction exemptions, but there are limits to how far they can go,” she said.

Publication: PlanSponsor

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