Retirement saver protection rule has died — for the second time. What it means for investors
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The Labor Department fiduciary rule had raised the legal bar for brokers, insurance agents and others who gave advice to roll over assets from a 401(k) plan.
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A rule that aimed to raise investment-advice protections for retirement savers has died in court — now, effectively, for the second time . Some legal experts said the outcome could lead unwary retirement investors to receive investment advice that's not in their best interests, and cause confusion about the legal obligations that brokers, insurance agents and other financial intermediaries owe to retail investors. The undoing of the so-called "fiduciary" rule, issued by the Biden-era Department of Labor , is a déjà vu of sorts, mirroring the outcome for a similar rule issued about a decade ago by the Obama administration, according to experts in retirement law. Read more CNBC personal finance coverage Retirement saver protection rule has died — for the second time More than 7 million student loan borrowers face deadline to leave SAVE plan Department of Labor proposes rules for including alternative assets in 401 s 31.5% of car buyers underwater on trade-ins; analyst says amount owed 'troubling' Why your tax refund may look different this year, and what's actually driving it Expecting to fight about money with your partner? You might be wrong: study Belle Burden's 'Strangers' highlights key financial red flags for women Average IRS tax refund is up 10.9%, latest filing data shows 1.4 million filers face tax refund delays amid IRS paper check phaseout Family caregivers now provide $1 trillion worth of care annually, AARP finds Higher gas prices from Iran war could offset Trump's bigger tax refunds Single women see homeownership as 'a wealth-building tool,' economist says Amid March Madness, NY Fed highlights sports betting toll on credit health Social Security benefits can top $100,000 a year for some couples Iran war may further 'chill' an already frozen job market, economist says CNBC's Financial Advisor 100: Best financial advisors, top firms ranked The Biden and Obama rules sought to crack down on conflicts of interest among brokers, advisors, insurance agents and...
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