You, as School Head or Business Manager, may be aware of the new Department of Labor (DOL) guidelines issued on April 6, 2016, as they pertain to fiduciaries. Generally noted as the “Fiduciary Rule,” it will be phased in with initial compliance obligations beginning on April 10, 2017, and full compliance expected by January 1, 2018. The new rule amends regulations related to the Employee Retirement Income Security Act (ERISA). It mainly targets financial advisors, broker/dealers, and insurance agents who give investment advice and/or sell annuities and other investment vehicles used in 403(b) and 401(k) accounts found in many employer plans and in IRA pension plans. This article primarily focuses on 403(b) and 401(k) plans.