Conflicted IRA Advice Widespread as Fiduciaries Lack Oversight, Watchdog Finds

News August 28, 2024 at 02:00 PM
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What You Need To Know

  • Lawmakers asked the Government Accountability Office to assess current issues around conflicts of interest and investment advice.
  • Conflicts abound among recommedations to retirement investors, the watchdog found.
  • IRS needs to implement an audit process for IRA fiduciaries so it can more effectively assess excise taxes for prohibited transactions, GAO suggests.

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