Current Events

DOL publishes proposed delay in Conflict of Interest rule applicability date

March 09, 2017

On March 1, 2017, the Department of Labor released a proposal to delay the “applicability date” of its Conflict of Interest (aka “fiduciary”) regulation by 60 days, from April 10, 2017 to June 9, 2017. Interested persons have 15 days to comment on the proposed extension. In this article, we briefly discuss DOL’s proposed extension. We note that President Trump’s nominee for Secretary of Labor, Alexander Acosta, has not yet been confirmed. Nor, critically, has a new head of DOL’s Employee Benefit Security Administration (EBSA). Read More

Possible update to state mandatory private sector auto-IRA programs

February 23, 2017

In this article we briefly review two recent developments in the initiative by certain states (and certain large cities) to require private sector employers that do not offer a retirement plan to provide an auto-IRA for their employees. Read More

Federal court rules in favor DOL in Conflict of Interest rule lawsuit

February 09, 2017

On February 8, 2017, the United States District Court for the Northern District of Texas (Dallas Division) ruled in favor of the Department of Labor in Chamber Of Commerce of the United States of America, et al. v. Edward Hugler, Acting Secretary of Labor, the lawsuit brought by the Chamber of Commerce and other industry groups challenging the legality of DOL’s Conflict of Interest rule (and related rulings). Read More

Administration issues executive order, review of DOL’s Conflict of Interest rule

February 06, 2017

On February 3, 2017, President Trump signed an executive order instructing the Department of Labor to review its Conflict of Interest rule. If the Secretary of Labor determines that the current rule is inconsistent with those priorities, he “shall publish for notice and comment a proposed rule rescinding or revising the Rule, as appropriate and as consistent with law.” Read More


February 02, 2017

(Reprinted from Human Resource Executive) I posted here earlier this month about a provocative Wall Street Journal piece in which the creators and early adopters of the 401(k) retirement-savings vehicle lament the revolution they started. Their point: They had no intention of watching the concept turn into the sole — and highly inadequate — savings receptacle for employees. Now, on the heels of that, benefits expert Larry Sher is taking that discussion even further, to a whole lot more wrong with the defined-contribution approach and the people who support it. Read More

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