watch nowThe most immediate threat to President Joe Biden's Retirement Security Rule is that the Trump administration declines to keep defending it in court, attorneys said. What the DOL fiduciary rule doesA primary goal of the Department of Labor rule is to raise the investment-advice standard tied to 401(k)-to-IRA rollovers, especially those for certain insurance products, experts said. The new Labor rule "makes it highly likely that rollover recommendations are subject to a fiduciary standard," Reish said. The Biden-era rule would likely have the largest impact on insurance agents that sell "non-securities" products, which include certain annuities like indexed annuities, attorneys said. Texas courts likely to strike down DOL ruleTwo federal district courts in Texas issued a national "stay" of the regulation, in separate rulings in July.

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Persons: Brandon Bell, Donald Trump's, Joe Biden's, Trump, Fred Reish, Drinker Biddle, Reath, Reish, Julie Su, Chip Somodevilla, —, ACLI Organizations: Getty, Labor Department, Biden, Reath LLP, Department of Labor, White House Council, Economic Advisers, Labor, U.S, Investment, Securities and Exchange, Northern, Northern District of, American, of, United States Department of Labor, Americans, Consumer Choice Locations: Texas, Northern District, Northern District of Texas