Bass, Berry & Sims attorneys Doug Dahl and David Thornton authored an article for HR Professionals Magazine outlining the top 10 things every HR professional should know about the Department of Labor's (DOL's) new fiduciary rule. In the article, Doug and David answer the following 10 questions about the new rule:
- How Does the Final Rule Change the Definition of Investment Fiduciary?
- What is an Investment "Recommendation?"
- Could an HR or Benefit Professional Become an Investment Fiduciary?
- Is Investment Education Considered Advice?
- Does the Final Rule Apply to My Company's Health and Welfare Plans?
- Will this Change My Relationship with Plan Service Providers?
- What is the Best Interest Contract Exemption That I Keep Hearing About?
- What Should I Do If My Company is in the Financial Service Industry?
- What Should I Know About the Final Rule and IRAs?
- When Does the Final Rule Become Effective?
The full article, "The DOL's New Fiduciary Rule: Ten Things the HR Professional Should Know," was published by HR Professionals Magazine on September 6, 2016, and is available online or in the September 2016 print issue of the publication.