Is the Biden DOL Rule dead under Trump?
Kevin Clark Kevin Clark

Is the Biden DOL Rule dead under Trump?

The Biden Administration put forth changes to section 3(21)(a)(ii) of ERISA in April 2024. Section 3(21)(a)(ii) of ERISA defines how an adviser can become an ERISA Fiduciary by providing “non-discretionary” advice. Since 1975 there has been a Five Part Test to determine if you were operating as an ERISA Fiduciary. The Biden Administration looked to amend this with a three-part test…

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