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Peter Kennedy, ERISA Advisor for portfolio company Vestwell, reviews the key regulatory changes in 2018 that impacted the retirement industry - including the (for now) abandoned Fiduciary Rule, the Retirement Enhancement and Security Act (RESA), and the Retirement Lost and Found Act.
In addition to the legislative matters above, other bills have been proposed that cover a variety of topics including increasing the amount that could be distributed to a former participant without consent, simplifying the complex rules related to offering annuities in qualified retirement plans, and changing the default option for delivering plan information to electronic delivery. Stay tuned in 2019 as we continue to monitor new rules that will impact advisors and their firms…and navigate them together.
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