It's oh-so-easy to disregard.
After all, with the implementation-without-enforcement "soft open," and the between-the-line hint we shouldn't be surprised to see a major rewrite between now and the end of the year, the DOL's long awaited conflict-of-interest (aka "fiduciary") rule seems about as relevant as yesterday's fake news.
But, woe betide to those 401(k) plan sponsors who assume, come June 10th, it'll remain business as usual (see "What's the Immediate Impact of the DOL Fiduciary Rule on 401k Plan Sponsors?" FiduciaryNews.com, June 6, 2017). In many ways, there are aspects to the fiduciary rule that mimic the plan sponsor liability increases we saw with the 2012 Fee Disclosure Rule, although less explicitly so.
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