The DOL, the IRS and the Chevron Reversal The Supreme Court’s Chevron reversal creates uncertainty for plan advisers and sponsors. https://bit.ly/3VVK4B4
PLANADVISER’s Post
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In light of the recent challenges to the Chevron deference accorded to agency regulations, a great article about the oddities in the DOL's notice and comment process regarding the proposed new fiduciary rule. Expect all of these issues to be raised when the regulation is challenged. #ERISA #retirementplans #fiduciaryrule #401k #benefitslaw
Trade groups express concern about regulatory process on DOL fiduciary rule
https://insurancenewsnet.com
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With new tax rules for super on the horizon, many people with large balances are considering alternative vehicles to save for retirement. Unsurprisingly, this has sparked a renewed interest in an old favourite – trusts. In our latest blog, we discuss trusts and whether one it’s appropriate for your business or family. #oracleag #oracle #trusts #tax #super #taxrules
Trusts and the new super tax rules
https://oracleag.com.au
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On June 28, the Supreme Court ruled to overturn the Chevron Doctrine in the Loper Bright Enterprises v. Raimondo case. Overturning this doctrine means that courts may no longer defer to a federal agency’s interpretation of the law simply because the statute is ambiguous. This decision will impact those who are responsible for interpreting and enforcing retirement plan statutes, such as the IRS and DOL. Learn about the potential future challenges in our blog post below -> https://hubs.ly/Q02GXhbv0
Supreme Court's Chevron Ruling's Impact on DOL Fiduciary and ESG Rules
blog.multnomahgroup.com
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3L at Lewis & Clark Law School interested in ERISA & Benefits Law | Senior Investment Operations Analyst at Multnomah Group, Inc.
Check out Multnomah Group's latest blog post!
On June 28, the Supreme Court ruled to overturn the Chevron Doctrine in the Loper Bright Enterprises v. Raimondo case. Overturning this doctrine means that courts may no longer defer to a federal agency’s interpretation of the law simply because the statute is ambiguous. This decision will impact those who are responsible for interpreting and enforcing retirement plan statutes, such as the IRS and DOL. Learn about the potential future challenges in our blog post below -> https://hubs.ly/Q02GXhbv0
Supreme Court's Chevron Ruling's Impact on DOL Fiduciary and ESG Rules
blog.multnomahgroup.com
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What is Chevron deference and how does its demise impact the pending Retirement Security Rule? I mentioned in mid-June that the newest Fiduciary Rule faced challenge in federal court. At the end of the month, the U.S. Supreme Court tore up the rules, overturning 40 years of precedent. Prior to the Loper Bright ruling, federal courts were guided to defer to federal agencies in their rule making relative to interpretating federal law. That precedent is no more! Loper Bright will have far reaching effects and help many lawyers practicing administrative law increase their billings - in suing federal agencies. Relative to the latest Fiduciary Rule, I suspect its fate is sealed. As previously indicated, that means protecting the retirement plan and your employees will continue to hing on making your plan’s advisor commit to the fiduciary standard in a written agreement for both selecting plan investments and working with your people. #401k #ERISA #FiduciaryRule #Fiduciary #FiduciaryFriday #FF061424 #FF071224
How will SCOTUS Chevron ruling impact DOL's fiduciary rule?
https://insurancenewsnet.com
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It's #FiduciaryFriday and Michael Smoots, J.D., AIF® is discussing how the #SCOTUS Chevron ruling may impact the DOL’s fiduciary rule. Check it out below. #fiduciaryrule ⤵
What is Chevron deference and how does its demise impact the pending Retirement Security Rule? I mentioned in mid-June that the newest Fiduciary Rule faced challenge in federal court. At the end of the month, the U.S. Supreme Court tore up the rules, overturning 40 years of precedent. Prior to the Loper Bright ruling, federal courts were guided to defer to federal agencies in their rule making relative to interpretating federal law. That precedent is no more! Loper Bright will have far reaching effects and help many lawyers practicing administrative law increase their billings - in suing federal agencies. Relative to the latest Fiduciary Rule, I suspect its fate is sealed. As previously indicated, that means protecting the retirement plan and your employees will continue to hing on making your plan’s advisor commit to the fiduciary standard in a written agreement for both selecting plan investments and working with your people. #401k #ERISA #FiduciaryRule #Fiduciary #FiduciaryFriday #FF061424 #FF071224
How will SCOTUS Chevron ruling impact DOL's fiduciary rule?
https://insurancenewsnet.com
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Investing in critical infrastructure is important... at the right price. I truly hope for all taxpayers that the due diligence includes a cost assurance deep dive. #TMX #turnerandtownsend
Alberta pension fund AIMCo flags interest in buying Trans Mountain stake
reuters.com
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Investment companies administering retirement plans are not required to track shareholders the same way as, say, mutual funds. Coastal Bridge Advisors' Partner and Advisor Michael Kazakewich, CRPC®, CFP® recently spoke with FiduciaryNews.com regarding why employers should still do what they can to remain in contact with lost plan holders: https://lnkd.in/eFrVqYfn #WealthManagement #FinancialAdvisor #RetirementPlanSponsors Disclosure: This material by Coastal Bridge Advisors is for informational purposes only and is presented solely as an illustration of the typical advisor experience. Coastal Bridge Advisors does not provide tax or legal advice, and nothing contained in these materials should be taken as tax or legal advice. Unique client experiences and past performance do not guarantee future results.
What 401k Plan Sponsors Should Do About ‘Lost’ Participants - Fiduciary News
https://fiduciarynews.com
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"When is a statement of opinion that reflects some subjective judgment nevertheless actionable under [US] federal securities laws?" "Opinions are ... actionable under Section 11 of the Securities Act not only when 'the speaker did not hold the belief she professed,' ... but also if the statement of opinion contains embedded statements of fact that are untrue, or the statement omits information whose omission conveys false facts about the speaker’s basis for holding that view and makes the opinion statement misleading to a reasonable investor[.]" Latest Second Circuit case law on the matter - New England Carpenters Guaranteed Annuity and Pension Funds v. DeCarlo (August 23, 2023) - here: https://lnkd.in/gp5tiNsu.
20-1643-2023-08-23.pdf
cases.justia.com
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My latest blog post examines the DOL final rule which broadens the meaning of "investment advice fiduciary" under ERISA. The final rule is already being challenged by an insurance industry advocacy group. It will be interesting to see how courts respond to litigation efforts to enjoin and vacate the final rule.
Say goodbye to the five-part test for determining when a person giving investment advice is a fiduciary. In this post, @Jeff Mamorsky discusses how the DOL's final fiduciary advice rule changes the requirements. The new rule casts a wider net to include one-time activities such as rollover advice, but can it survive court challenges? https://lnkd.in/gYyN_iaf
Who’s a Fiduciary? First Challenge of the DOL Investment Advice Fiduciary Final Rule — Cohen & Buckmann, P.C.
cohenbuckmann.com
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