DOL Proposes to Delay the Fiduciary Rule

On March 2, 2017, the Department of Labor (DOL) issued a proposal to extend for 60 days rules defining who is a “fiduciary” under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code of 1986 (Code).  The proposal would also extend for 60 days the applicability date of related prohibited transaction exemptions including the Best Interest Contract Exemption and amended prohibited transaction exemptions (collectively PTEs).

Link to proposed rules: https://s3.amazonaws.com/public-inspection.federalregister.gov/2017-04096.pdf

Comments are due 15 days from the date of this proposal’s publication in the Federal Register.

Advocacy contact: Dillon Taylor(link sends e-mail) at 202.401.9787.