From OneAmerica bulletin on 6/8/17:
The Department of Labor announced there will be no delay in the June 9, 2017, applicability date of the Fiduciary Rule. As of 11:59 p.m. EDT on June 9, 2017, the expanded fiduciary definition will be in effect for all business involving a deposit to or a withdrawal from an IRA, ERISA Plan or 401(k) Plan. Effective June 10, 2017, we’ll be requiring producers to acknowledge they are eligible to receive a commission (under either Prohibited Transaction Exemption Form 84-24 or the Best Interest Contract Exemption) for new OneAmerica® sales in IRAs and additional purchase payments to existing IRA contracts. Check with your affiliate institution or back office, because you may need to use this acknowledgement letter when placing any of the following qualified Care Solutions contracts:
- Single Premium Immediate Annuity
- Annuity Care
- Annuity Care III
- Asset-Care III
- Indexed Annuity Care
- Legacy Care
- Your New Business team will help ensure you have the correct paperwork on file. Thank you for your ongoing support and business.