Originally published on Fiduciary News, May 15, 2018
May 15, 2018 – Exclusive Interview: Phyllis Borzi says Original Fiduciary 5-Part Test Left Plan Sponsors “Holding the Bag”
For eight years Phyllis Borzi worked hard to make the fiduciary obligation consistent among service providers to the nation’s corporate retirement plans. When she retired last year, she looked forward to beginning to cross off those many deferred wishes from her bucket list. She has. But she hasn’t left the team. As a newly appointed member of the Advisory Board of the Institute of the Fiduciary Standard, her head remains vigorously in the game.
We thought readers might be interested to learn directly from a key player about some of the behind the scenes action at the DOL’s effort to offer, take back the offer, then offer again a solid Fiduciary Rule. And, even though many have called this Rule “dead,” with a respectful nod to Monty Python, “It’s not dead yet” (at least in spirit).