Regulations

Department of Labor’s Proposed Fiduciary Rule

February 17, 2016 | By Mark Nolan

QUESTION:

How do you think the Department of Labor’s proposed Fiduciary Rule could affect my solo 401k?

ANSWER:

It won’t have any affect because the solo 401(k) is only for owner-only businesses with no common law employees. The fiduciary concern comes into play when you have common-law employees participating in a full-time employer retirement plan such as a 401k plan.

 

 

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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