Tag: OMB

retirement

DOL Files to Delay Start of Fiduciary Rule

The U.S. Department of Labor (DOL) on February 9 filed a notice delaying the April 10 applicability date of its rule broadening the definition of a fiduciary. The move was expected after President Donald Trump on February 3 signed a memorandum requesting the agency to postpone and re-examine the rule on investment advice.

DOL’s New Overtime Regs Advance

by Tammy Binford The U.S. Department of Labor’s (DOL) proposed rule greatly expanding the number of workers eligible for overtime pay has been submitted to the Office of Management and Budget (OMB) for review, a necessary step before the rule can be finalized.

Opportunity for Employers to Give DOL Feedback on Provider Fee Disclosure

More than two years into the regulation’s implementation, the U.S. Department of Labor wants industry and plan sponsor comment on its regulation that requires retirement plan service providers to disclose fee information to fiduciaries. ERISA Section 408(b)(2) requires covered service providers to give fiduciaries information they need to assess the “reasonableness” of the administrators’ total compensation, […]