The employer has to write the check, and DOL
is a money-making agency.
If there is a re-proposal, we would expect to see the DOL
address some of the retirement services industry's criticisms, and possibly include a seller's carve-out from fiduciary status or allow financial institutions, under the Best Interest Contract (BIC) exemption, to require arbitration in all cases.
Related: Could complying with the DOL
rule give insurers a competitive advantage?
Bullard added that "the [fiduciary] issue is national; DOL
is in D.
To best prepare for a DOL
audit, Sohn recommends choosing one high-level person at your company to serve as a liaison with the DOL
will not issue exemptions that have been requested orally.
Building on the MRBs framework, DOL
ensures the policies and goals of the PMA are carried out through the oversight of other boards and work groups, ensuring its commitments are widely communicated and successfully managed.
said it is reviewing the effectiveness of its FMLA regulations to respond to prior stakeholder concerns and legal challenges to the rules over the past 12 years.
Under the VFC program, individuals who could be liable for a fiduciary breach can avoid a DOL
civil investigation or other DOL
action with respect to that breach if all of the conditions for relief have been satisfied.
will continue to monitor these audits, so the niche here to stay.
They extend the profit elasticity form of DOL
used by firms to other than competitive markets by introducing nonlinear cost and revenue functions.
revised the tests to determine whether white-collar employees are exempt from the Fair Labor Standards Act (FLSA) minimum wage and overtime requirements.