EBSA Says It Will Propose Fiduciary Rule in August

By Paul Mulholland June 15, 2023 PLANSPONSOR

“CFP Board supports action by the Department of Labor to propose updates to the regulatory definition of fiduciary under ERISA,” says Maureen Thompson, Vice President of Public Policy at CFP Board. “The existing five-part test needs to be updated to reflect the way workers today save and invest for a financially secure retirement.”