Department of Labor Fiduciary Rule Update:
60-Day Delay Announced; Applicability Date is June 9
On April 4, 2017, the Department of Labor (DOL) announced a 60-day delay for the fiduciary rule. The DOL’s Employee Benefits Security Administration (EBSA) final rule, which is scheduled to be published in the Federal Register by April 7, 2017, extends the date to determine who is a “fiduciary” under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. The EBSA said the delay is necessary for a thorough review of the rule by the Trump administration.
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We want to reiterate CreativeOne is here for you during this time of regulatory uncertainty. CreativeOne will do whatever it takes to make certain complying with this rule has minimal disruption to your business.
Please contact us at 800.992.2642 if you have any further questions or concerns. We appreciate your business and look forward to navigating the DOL rule together as a team.