I recently had the always-pleasant opportunity to do a virtual sit-down with the oft-quoted Fred Reish for the purposes of – what else? – quoting him often for an article you might be interested in reading (see "Fred Reish Unravels Washington Regs and Explains 401k Plan Sponsor Fiduciary Liability," FiduciaryNews.com, March 10, 2015). Our conversation got me thinking about all that's been happening in Washington these past few weeks.
We've seen a proverbial one-two punch from our nation's capital. On consecutive days, first the president announces his support for the DOL's new "Conflicts-of-Interest" Rule (nee "Fiduciary Rule"), then the Supreme Court heard the arguments on the Tibble vs. Edison case.
From the look of things, the justices didn't seem too pleased with the defendants. This ire, ironically, was matched by the anger of the Wall Street big boys regarding the DOL's forthcoming proposal.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
