DOL

The Department of Labor (DOL) recently released a regulatory package that includes a proposed amendment to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the “Retirement Security Rule”).

The Department of Labor (DOL) has released a new proposed rule updating the definition of an investment advice fiduciary under ERISA.

The Department of Labor (DOL) has responded to fiduciary responsibility questions from Citigroup Inc. (Citi) related to their Racial Equity Asset Manager Program.

The Department of Labor has sent a proposed rule titled “Retirement Security” (formerly titled “Conflict of Interest in Investment Advice”, also known as the Fiduciary Rule) to the Office of Management and Budget (OMB).

The Department of Labor’s (DOL) Employee Benefits Security Administration has announced that it will extend the grace period to obtain new Login.gov credentials for the EFAST2 filing system until December 31, 2023.

The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a request for information(RFI) to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements.

The Department of Labor’s (DOL’s) Wage and Hour Division has released a final rule updating the Davis-Bacon and Related Acts Regulations.

Effective July 26, 2023, the prime interest rate increased from 8.25 percent to 8.50 percent.

The Government Accountability Office (GAO) has released a report titled “403(b)
Retirement Plans: Department of Labor Should Update Educational Materials to Better Inform Plan Sponsors and Participants”.

The Department of Labor (DOL) has released a paper to initiate consultation with the ERISA Advisory Council as a first step in fulfilling the requirements of Section 321 of the SECURE 2.0 Act (SECURE 2.0) titled “Review of Pension Risk Transfer Interpretive Bulletin.”