DOL set to issue final fiduciary rule

September 2, 2015 by Melanie Waddell

Even before the four-day stint of mid-August hearings at Department of Labor headquarters in Washington, Labor Secretary Tom Perez confirmed the ultimate direction that Labor would take on its fiduciary re-proposal: A final rule will be issued once the comment period expires.

Officials anticipate that rule will come by May 2016. The DOL hearings were held from Aug. 10-14, but Perez told Rep. Ann Wagner — a defiant opponent of the DOL’s plan to amend the definition of fiduciary under the Employee Retirement Income Security Act — in an Aug. 7 letter that DOL has “undertaken incredibly thorough public outreach over the past five years” as it has designed the proposal. Click HERE to read article 

Originally Posted at LifeHealthPro on August 31, 2015 by Melanie Waddell.