The Employee Retirement Income Security Act of 1974 (“ERISA”) is the statute that governs the non-tax aspects of the implementation and operation of an employee pension benefit plan (hereinafter “plan”), as defined in ERISA section 3(2). The Employee Benefits Security Administration (“EBSA”) division of the U.S. Department of Labor ("DOL") is tasked with the administration of ERISA.
The focus of this paper is to summarize for the retirement plan financial adviser the existing ERISA regulations impacting his or her practice and then to note how the proposed regulations issued by the Employee Benefits Security administration ("EBSA") on April 14, 2015 that change the definition of "investment advice fiduciary" would affect both the existing ERISA regulations and the current business practices of the adviser.
Read Frankin Templeton's whitepaper "US Department of Labor Proposes Sweeping Changes to Definition of Investment Advice Fiduciaryunder ERISA."
What is a Collective Investment Fund (CIF)?
Application of ERISA to a CIF
ERISA Fiduciary Protection
CIFs as QDIAs