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Category Archives: Florida Retirement System

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New Department of Labor Rules Provides Greater Transparency for Investors Concerning Retirement Investment Advice

New Department of Labor Rules Provides Greater Transparency for Investors Concerning Retirement Investment Advice
  New Department of Labor (“DOL”) rules have been enacted to provide greater transparency for investors concerning retirement plan investment advice.  On April 8, 2016, the DOL defined the term “fiduciary”, as it relates to the new conflict of interest rule concerning “retirement investment advice”, designed to protect investor retirement accounts.  The new DOL changes…
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Defending Public Safety Employees’ Retirement Act Provides Tax Relief to PBSO Deputies and Palm Beach County Fire Rescue Professionals from Early Retirement Withdrawal Penalties

Defending Public Safety Employees’ Retirement Act Provides Tax Relief to PBSO Deputies and Palm Beach County Fire Rescue Professionals from Early Retirement Withdrawal Penalties
The Trade Priorities and Accountability Act of 2015 (H.R. Bill 2146), also known as the Defending Public Safety Employees’ Retirement Act, became effective December 31, 2015. The new tax law expanded the exemption for many federal public safety employees to include federal law enforcement officers, customs and border protection officers, federal firefighters, and air traffic…
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New Proposed Rule Requires Fiduciary Standard for FRS Investment Plan Rollovers

New Proposed Rule Requires Fiduciary Standard for FRS Investment Plan Rollovers
The new rule change proposed by the Department of Labor (DOL) is designed to require the same level of financial advisor responsibilities for Individual Retirement Account (IRA) rollovers, as is currently mandated for FRS Investment Plan accounts. The higher standard referred to by the DOL rule change is known as the fiduciary standard. A financial…
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