Greg was a reporter for InvestmentNews from 2015 to 2019, covering defined-contribution plans, retirement planning, insurance, taxes and estate planning, before then moving to CNBC as a Personal Finance Reporter. He tweets at: @GregIacurci
The DOL could propose a delay that would be subject to public comment, or the administration could issue an interim rule seeking delay based on "good cause."
The brokers used an "in-and-out" scheme in roughly two dozen client accounts, which created "enormous losses," according to the SEC.
If granted, the change would make it easier for some indexed annuity distributors to sell commission products under the Labor Department regulation.
Advisers can continue to offset a level fee charged on retirement-plan assets with revenue-sharing payments such as 12b-1 fees.
Ideology about the role of government in the free market and concerns over effective implementation of the auto-IRAs are primary factors.
The addition reflects regulators' concerns about potential investor risk posed by automated-advice services.
Investing in real estate, private equity, church bonds and precious metals can create some unique problems for retirement savers.
The programs, currently being established in five states, open up distribution opportunities for 401(k) advisers in the short term and create longer-term prospects.
Some providers see sales opportunity due to broker-dealers' narrowing of product platforms.
The bill would delay the fiduciary rule's implementation two years from the time the legislation is enacted.
