Overview
In April 2024, the U.S. Department of Labor (DOL) released the final Retirement Security Rule, defining investment advice fiduciaries under ERISA and revising the 2016 Fiduciary Rule. The DOL also amended several class prohibited transaction exemptions (PTEs) for 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 for insurance professionals and financial planners.
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License or Certification
Regulator
Type
Learning Objectives
- 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
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Course Information
Adding additional credit may change exam requirements.
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