A just-released report by the Government Accountability Office on rollovers foreshadows what one of the more controversial aspects of the Department of Labor’s revised fiduciary rule may look like, industry officials say. 

In its 76-page report, “401(k) Plans: Labor and IRS Could Improve the Rollover Process for Participants,” GAO urges the DOL and the Internal Revenue Service to take steps to ensure that plan-to-plan rollovers are more efficient, and to provide more information to plan participants about their distribution options when leaving an employer’s plan, as GAO says the current rollover process favors distributions to individual retirement accounts.

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