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Reish - 2 Rollovers - 1 Katrina Berishaj - 1 Ronon Stevens - 1 Young - 1 it's - 1 Berishaj - 1 They'd - 1
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2 mentions found


☆ Advice about 401(k) rollovers is poised for a big change. Here's why
  + stars: | 2024-04-28 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
Johner Images | Johner Images Royalty-free | Getty ImagesA new U.S. Labor Department rule will significantly change the advice many investors receive about rolling money over from 401(k) plans to individual retirement accounts, legal experts say. watch nowA 'major shift' in rollover adviceThe new Labor Department rule aims to make more investment recommendations "fiduciary" in nature. The new Labor Department rule changes that, however. Good advisors are likely making an honest effort to do what's best for their clients, but hopefully the Labor Department rule would "bring up the bottom to a better quality," Reish said. However, many financial companies dispute the necessity of the Labor Department rule.
Persons: Rollovers, Katrina Berishaj, Ronon Stevens, Young, it's, Reish, Berishaj, They'd, Susan Neely Organizations: . Labor Department, Department, Labor, Economic, Labor Department, Young, American Council of
☆ Investors roll more than $600 billion a year to IRAs. Anticipated Labor Department rules could raise their protections
  + stars: | 2023-10-06 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
This is what the Labor Department will likely tweak, attorneys said. Now, the Labor Department is trying again, though its rule likely won't be as far-reaching, experts said. The OMB has 90 days to review the rule, Borzi said, after which the Labor Department would issue its proposal publicly. watch nowBased on recent legal clues, attorneys expect the Labor Department will seek to raise the bar on all rollover advice provided by the financial ecosystem. That generally means investment advice must be given solely in investors' best interests.
Persons: IRAs IRAs, Phyllis Borzi, Obama, Reish, —, Borzi, Andrew Oringer, Sen, Bill Cassidy, Virginia Foxx, There's, They're, Fred Reish, Drinker Biddle Organizations: U.S . Department of Labor, Washington , D.C, Washington Post, The Washington Post, Getty, Investment Company Institute, ICI, Labor, Pew Research Center, Labor Department, Management, Budget, OMB, Wagner Law, Critics, Rep Locations: Washington ,, IRAs
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