Fred Reish Quoted by ThinkAdvisor on DOL Rollover Review Deadline

In “DOL Rollover Review Deadline Looms; Here’s Where Firms Stand,” benefits and executive compensation partner Fred Reish spoke to ThinkAdvisor about the deadline for the Department of Labor (DOL) guidance that declared rollover advice fiduciary advice.

Reish said that this is the first retrospective review that firms have had to undertake under Prohibited Transaction Exemption (PTE) 2020-02. “If a firm does it [the retrospective review] on the calendar year, yes, it must be done by June 30,” he noted.

Reish also explained where firms now stand in compliance with the latest deadline and what he thinks the DOL’s new fiduciary rule — which the agency signaled will likely come in August — will say.