Keeping you in the know with information you can use.
August 1, 2018
Ameritas Notice Regarding the Department of Labor Fiduciary Rule
On Thursday, June 21, 2018, the Fifth Circuit Court of Appeals vacated the Department of Labor (DOL) Fiduciary Rule. As a result, Ameritas Life Insurance Corp. no longer requires a signed Agent Acknowledgement form, and you are no longer required to provide a PTE 84-24 disclosure to clients. Any optional resources or best practices you developed to comply with the rule can still be used but should no longer reference the DOL Rule.
Although the Agent Acknowledgement form is no longer required, and you are no longer considered a fiduciary in most circumstances, we know that you, as a Producer, will continue to act in the best interest of your clients when recommending an Ameritas product. In addition, to significantly mitigate potential liability when recommending IRA rollovers or plan distributions to fund an IRA, it is important to continue to document why a recommended product is right for your client.
Legacy Marketing Group® and Ameritas will continue to monitor regulatory developments and requirements proposed by various states, as well as the NAIC and SEC, and will communicate any further changes to you.
Questions? Call Legacy’s Sales Team at 800-395-1053, Ext. 4002, or Compliance Team at Ext. 5819.
Ameritas and Legacy Marketing Group® are separate, independent entities. Unless otherwise specified, any person or entity referenced herein is not an affiliate of Ameritas or any of its affiliates.