The DOL Should Challenge the Fifth Circuit’s Opinion

May 6, 2024 by Kerry Pechter

Back in 2018, the Fifth Circuit U.S. Court of Appeals sided with the American Council of Life Insurers (ACLI) and the U.S. Chamber of Commerce to quash the Department of Labor’s proposed “fiduciary rule,” which could have hindered the sales of annuities to IRA owners.

Last week, the DOL issued a new but similar rule. Why would the DOL ignore a powerful precedent and seek a rematch?

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Originally Posted at Retirement Income Journal on May 1, 2024 by Kerry Pechter.