Finalization of the Department of Labor’s (DOL) proposed fiduciary rule will place new responsibilities on sponsors of 401(k) plans to determine the extent of service they want from retirement plan providers, says Douglas Fisher, senior vice president of policy development at Fidelity.
Fisher, who spoke with BenefitsPro in between meetings on Capitol Hill last week, said no one can predict with certainty how the rule will affect the recordkeeping market, or how participants and sponsors will pay to have their plans administered going forward.
“Fees for recordkeeping and money management have been going down — that’s happening regardless of the DOL rule,” says Fisher.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
