At the end of a long process that could have many in the retirement world seriously considering their futures in the business — or how they go about getting expert input to make those plan decisions — the Department of Labor is apparently close to finishing its controversial work on establishing a fiduciary standard.
Phyllis Borzi, assistant secretary of labor with the Department of Labor’s Employee Benefits Security Administration, told attendees at Tuesday’s annual American Society of Pension Professionals and Actuaries conference in National Harbor, Md. that the last stages of finalizing DOL’s conflict of interest rulings are indeed underway, with the long-awaited regulations potentially possible by year’s end.
