New research finds nearly three quarters of plan providers believe they will need to train their employees about the rule
WINDSOR, Conn. – July 5, 2016 – The LIMRA LOMA Secure Retirement InstituteTM today announced the recent launch of DOL Fiduciary Basics for Employees, a new short online course that offers an unbiased, simple explanation of what the rule means to industry organizations and their employees.
New LIMRA Secure Retirement Institute research finds that almost three-quarters of retirement plan providers anticipate that their call center staff will need at least some training about the implications of this rule.
“Call center employees aren’t the only ones who will need to understand the DOL fiduciary rule,” said Kathy Milligan, FLMI, ACS, senior vice president of LOMA’s Education and Training Division. “This rule touches almost every part of the business, so it’s vitally important for financial services organizations to prepare employees as they transition to this new regulatory environment. Our new course helps employees understand the operational changes their company is making to comply with the new rule.”
DOL Fiduciary Basics for Employees is presented in 13 short multimedia vignettes, each being several minutes in duration. It has been designed to provide foundational knowledge about the rule and to establish a common language and understanding within an organization.
DOL Fiduciary Basics for Employees delivers content and multimedia scenarios in an engaging, interactive design, along with flexible accessibility through mobile devices, tablets, or personal computers. In addition, the short lessons can be easily integrated with company-specific training and education.
For more information on this important new course, please visit loma.org/DOL. And for additional resources to help you better understand the DOL’s effect on the industry, visit the LIMRA LOMA Secure Retirement Institute’s DOL microsite at limra.com/DOL.
About LIMRA LOMA Secure Retirement Institute
The LIMRA LOMA Secure Retirement Institute provides comprehensive, unbiased research and education about all aspects within the retirement industry to improve retirement readiness and promote retirement security. For information on the LIMRA LOMA Secure Retirement Institute, visit: LIMRA LOMA SRI page.
Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing and related products and services. To find out more about LOMA and the learning opportunities it offers, visit www.loma.org.