ThinkAdvisor Shares Takeaways From Fred Reish and David Porteous on DOL Prohibited Transaction Exemption

In “4 Tips to Avoid Rollover Problems Under New DOL Rule,” ThinkAdvisor shared key takeaways from benefits and executive compensation partner Fred Reish and business litigation partner David Porteous during a Faegre Drinker webinar on the Department of Labor’s (DOL) prohibited transaction exemption 2020-02 and how to avoid potential compliance problems.

The four tips the publication highlighted from Reish and Porteous were 1) understand the exemption’s requirements and scope, 2) tighten up the best-interest process, 3) collect data and 4) be specific in writing.