EBSA Denies Comment Period Extension for Fiduciary Proposal
The regulator pushed back on industry requests to extend comment time for the controversial proposal; the period will still end...
Tag: EBSA
State AGs Appeal Dismissal of Suit Challenging DOL’s ESG Rule
The Department of Labor’s defense continues on two tracks, one in Wisconsin, and 2another in the 5th Circuit.
DOL Fiduciary Proposal Expected by End of October
The proposal is expected to redefine fiduciary in the context of retirement investment advice.
OMB Begins Holding Stakeholder Meetings for New Fiduciary Rule
The proposal will likely address compensation structures and IRA rollovers, though no draft is available yet.
Inflation Data Will Be Unavailable for 2024 Social Security COLA With Shutdown
The Social Security COLA would not be updated on the scheduled timeline of October 12 during a government shutdown.
Acting Secretary of Labor Su Under Pressure as DOL Prepares Fiduciary Proposal
Republicans introduced legislation targeting the controversial candidate, whose nomination has not been put to a vote.
Republican Leaders Discourage 3(21) Fiduciary Rule Amendment
Updating the fiduciary rule remains a key area of focus for the Department of Labor, despite missing a published August...
DOL Seeks Comment on Select SECURE 2.0 Enactments
From PEPs to emergency savings accounts, the DOL’s EBSA is welcoming input on changes and revisions to retirement plan administration.
Pension Risk Transfers in No Need of Overhaul, Insurance Executives Say
Minor changes, such as requiring pensions to consider cybersecurity before selecting an annuity provider, could be positive, however.
House Spending Bill Would Block EBSA’s ESG Rule, but Senate’s Would Not
Congress has until September 30 to pass a budget bill.
EBSA Mulls Modifying PRT Rules
Many stakeholders advised the DOL on how to change fiduciary standards for annuity provider selection.
ERISA Advisory Council Highlights Trends in Pension Risk Transfers
PRTs are trending upward, but their relationship with private equity and non-traditional investments is drawing more scrutiny.
EBSA Publishes Regulatory Update on Health Facility Fees, Provider Networks
The FAQ says facility fees count toward out-of-pocket limits and price estimates, while maintaining a contractual relationship causes a provider...
Federal Agencies Propose Plugging Short-Term Health Plan Workaround
The Biden administration has proposed limiting short-term health plans it calls ‘junk insurance’ to four months instead of one year.
DOL Says to Expect Fiduciary Proposal in August
The new rule would seek to redefine when investment advisers for plans and IRAs are 3(21) fiduciaries.
DOL to Extend UBS, Credit Suisse 401(k) Asset Management Exemption
The DOL proposes extending for one year beyond their merger the exemptions being used by UBS and Credit Suisse to...
Asst. Labor Secretary Gomez Says DOL Studying SECURE 2.0 Implementations
The EBSA head also discussed the need to educate market participants on the DOL's ESG rule and changes to COVID-19...
EBSA Provides More Time for QPAM Exemption Proposal Comments
The proposed changes to the QPAM exemption can now receive public comment until April 6.
White House Budget Proposal Increases Funding for DOL Enforcement Actions
President Joe Biden’s proposal for fiscal 2024 also provides Social Security Administration, IRS with more money to improve customer service.
EBSA Announces Three-Part Webinar Series on Fiduciary Duties
The webinars will cover retirement plans and group health plans.