Data / Federal rules / 2024-08065
Retirement Security Rule: Definition of an Investment Advice Fiduciary
The Employee Benefits Security Administration published this final rule in the Federal Register on April 25, 2024. It took effect on September 23, 2024.
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What the agency says
The Department of Labor (Department) is adopting a final rule defining when a person renders "investment advice for a fee or other compensation, direct or indirect" with respect to any moneys or other property of an employee benefit plan, for purposes of the definition of a "fiduciary" in the Employee Retirement Income Security Act of 1974 (Title I of ERISA or the Act). The final rule also applies for purposes of Title II of ERISA to the definition of a fiduciary of a plan defined in Internal Revenue Code (Code), including an individual retirement account or other plan identified in the Code. The Department also is publishing elsewhere in this issue of the Federal Register amendments to Prohibited Transaction Exemption 2020-02 (Improving Investment Advice for Workers & Retirees) and to several other existing administrative exemptions from the prohibited transaction rules applicable to fiduciaries under Title I and Title II of ERISA.
Key facts
- Document number
- 2024-08065
- Type
- Final rule
- Action
- Final rule
- Agency
- Labor Department; Employee Benefits Security Administration
- Published
- April 25, 2024
- Takes effect
- September 23, 2024
- Dates
- This regulation is effective September 23, 2024.
- Regulation ID (RIN)
- 1210-AC02
- Code of Federal Regulations
- 29 CFR 2510
- Topics
- Employee benefit plans; Pensions
- Pages
- 137
Other documents from the Employee Benefits Security Administration
| Document | Type | Published |
|---|---|---|
| Transparency in Coverage 2026-20447 · significant | Final rule | Oct 6 |
| Federal Independent Dispute Resolution Operations; Correction 2026-17622 · significant | Final rule | Aug 28 |
| Electronic Disclosure by Group Health Plans Under ERISA 2026-14917 · significant | Proposed rule | Jul 23 |
| Federal Independent Dispute Resolution Operations 2026-11140 · significant | Final rule | Jun 4 |
| Excepted Fertility Benefits 2026-09479 | Proposed rule | May 13 |
| Fiduciary Duties in Selecting Designated Investment Alternatives 2026-06178 | Proposed rule | Mar 31 |
| Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur 2026-05492 · significant | Final rule | Mar 20 |
| Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure; Extension of Comment Period 2026-04084 · significant | Proposed rule | Mar 2 |
Everything from the Employee Benefits Security Administration · Rules on employee benefit plans · Rules on pensions · Published in April 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.