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Another example of the DOL's focus is the resolution of outstanding benefit payments to lost or unresponsive participants.
About health benefits, Acosta said DOL is working to expand small employers' access to multi-employer association health plans, to help the employers join together to bargain for cheaper coverage.
In sum, despite all of the uncertainty, the only pronounced undoing of the rule has come at the hands of the DOL. Ironically, it appears that the greatest threat to the future of the rule may not be the retirement services industry, but the DOL itself.
Related: 4 DOL fiduciary rule compliance considerations
At least one industry expert maintains that the nine heavyweight plaintiffs represented by the DOL's former solicitor, Eugene Scalia, waited too long to move on their complaint, and that they are headed for a battle with DOL to have the venue moved from U.S.
Unit 3 of the Bobov Dol TPP has been earmarked as cold reserve by end-September.
Current NAIFA President Robert Miller had this to add on the subject: "I will say that, in all the conversations I've had with legislators, if there's one thing they can agree on, it's that the DOL is overstepping its bounds.
The data received by the DOL, which may ultimately be shared with the states, could significantly increase employment tax audits related to worker classification.
DOL failed to complete an Initial Regulatory Flexibility Analysis (IRFA) on the new rule to expedite the effective date, and essentially stated that the burden has not changed from the original rule, only the timing of that burden.
The DOL has issued final regulations that describe the procedures for the filing and processing of applications for individual prohibited transaction exemptions under ERISA and the Internal Revenue Code.
* DOL press releases are accessible on the Internet at www.dol.gov.
Office of Management and Budget quickly recognized the MRB as a critical element in DOL's successful implementation of the PMA.
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