DOL Retirement Security Rule

Overview

In April 2024, the U.S. Department of Labor (DOL) released the Retirement Security Rule defining who is an investment advice fiduciary for purposes of complying with the Employee Retirement Income Security Act of 1974 (ERISA). DOL’s 2024 Retirement Security is considered by DOL to be its “final rule,” revising the previous 2016 Fiduciary Rule. In addition, DOL released final amendments to several class prohibited transaction exemptions (PTEs), which exist to accommodate financial services firms and their representatives working with retirement investors. 

This course examines the details and implications of the Retirement Security Rule and PTE amendments, including its implications for insurance professionals and financial planners. 

Learning Objectives

Upon completing this course, students will be able to:

  • explain the purpose and intent of DOL’s 2024 Retirement Security Rule and related PTE amendments
  • define ERISA’s expectation of the functions and responsibilities of those who have fiduciary status
  • describe what is—and is not—considered “investment advice”
  • explain what a prohibited transaction is under ERISA and the role that prohibited transaction exemptions (PTEs) play under DOL’s 2024 Retirement Security Rule
  • cite the prohibited transaction exemption (PTE) changes that affect fixed and variable annuities that are recommended or sold for qualified plans or IRAs 

Designed For

Life insurance producers and financial professionals 

Find this course for your license:

License or Certification

Regulator

Type