Insurance Industry’s Take on DOL’s Proposed Rule

November 2, 2023
Department of Labor
As the investment community grapples with the new proposed fiduciary rule from the DOL, the insurance industry expresses concern. Bonnie Treichel, Founder at Endeavor Law, was quoted by InvestmentNews about the impact on money remaining in plans if the proposed fiduciary rule were to become a final rule. She said, “If the proposed rule leads to more difficulty rolling money out of plans, whether for insurance products or mutual-fund-based IRAs, employers in many cases would welcome that, as many want to keep participants’ assets in-plan after they leave their jobs.” She further noted “When enough of these forces collide — regulation, paternalistic plan sponsors, etc., then it makes sense for money to stay in plan.”

Read the full article and proposed rule implications here.

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