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Plan Distribution and Rollover Guidance After Chamber of Commerce v. DOL: An Analysis of the Deseret Letter, Bloomberg Tax Compensation Planning Journal

January 04, 2019

Morgan Lewis partners Lindsay Jackson, Daniel Kleinman, and Michael Richman, and associate Ryan Montgomery authored, “Plan Distribution and Rollover Guidance After Chamber of Commerce v. DOL: An Analysis of the Deseret Letter,” for Bloomberg Tax Compensation Planning Journal. The article examines how the revocation of the Fiduciary Rule means that the Department of Labor’s positions in its advisory opinion to the Deseret Mutual Benefit Administrators (the Deseret Letter), which was issued in 2005 and generally concluded that rollover guidance was not viewed as fiduciary ‘‘investment advice’’ under ERISA and DOL regulations, are now again the primary guidance on how participant-level distribution and rollover assistance can be provided without running afoul of ERISA’s fiduciary duty provisions.

Read the full Bloomberg Tax article.