Proposed Rule on Conflicts of Interest in Investment Advice (November 2015)
The Pension Rights Center submitted comments to the Department of Labor (DOL) and testified at a hearing in support of the department’s proposed revision of the definition of “fiduciary.” The proposed definition describes the circumstances under which a financial adviser becomes a fiduciary and must give advice in the best interest of the customer, avoiding […]
Should you take your pension as a lump sum?
Updated: August 2015 Some companies have offered to cash out the pensions of certain retirees and former employees and instead give them a one-time lump-sum payment. While the idea of suddenly having a large sum of money is tempting, this is a decision that you will have to live with for the rest of your life. […]
Investment Advisers: Who Are They and Why Does It Matter?
The universe of financial advisers can be very confusing. People who give financial advice use many different labels, including investment adviser investment manager asset manager broker financial planner financial consultant financial adviser certified financial planner With such a variety of titles, it can be difficult to know which legal standards – if any – apply […]
Connecticut Secure Retirement Plan
On May 7, 2014, the Connecticut General Assembly passed a “budget implementer” bill that includes provisions to lay the groundwork for a new state-administered retirement savings plan for private-sector workers who do not have an employer-provided pension or retirement savings plan. The bill allocates $400,000 toward the establishment of a Connecticut Retirement Security Board and […]
Bill would automatically enroll employees in workplace IRAs
On August 5, 2010 Senator Jeff Bingaman (D-NM) introduced the Automatic IRA Act of 2010 (S. 3760). This bill would require most employers that do not sponsor a retirement plan to automatically enroll their employees in an IRA. Employees would be given choices about whether to participate in the IRA, what type of IRA (Roth […]