The American Retirement Association filed a comment letter raising concerns about the application of a new fiduciary regulation in the state of Nevada. Trucker Huss Attorney Joe Faucher contributed a legal analysis that concludes that courts would find that the Nevada statute is preempted by ERISA to the extent it seeks to regulate financial advisers who provide services to a retirement plan governed by ERISA, to the plan’s fiduciaries and/or to the plan’s participants or beneficiaries.
Click here for more information about the ARA’s position and to read the comment letter.
