Gomez said her agency is focused on educating the public about the meaning of the rule, as well as how it applies to plan sponsors and fiduciaries. "I'm hopeful that we'll be able to continue to get the message out and that the rule will have the intent it was supposed to."

The Labor Department is considering a new proposal that could expand who is considered a fiduciary under ERISA by amending the regulatory definition of the term fiduciary. A court struck down a similar regulation in 2018. "Things have changed so much in the retirement market, and we are trying to acknowledge those changes and reflect how the system works best in this new world," she said.

Related: Missing retirement plan participants? DOL ramping up efforts to locate lost employees

Late last year, SECURE 2.0, the comprehensive retirement security package, was enacted. Gomez said she is working on several projects related to the act, including creating a lost-and-found database to help retirement savers who lost track of their 401(k) or pension plan find the contact information for their plan administrator. Another provision tasks the Labor Department, along with other regulatory agencies, to study disclosure requirements for plan sponsors and recommend ways to simplify, consolidate or standardize them.

She also addressed several implications of the end of the COVID-19 public health emergency. Health plans no longer are required to cover COVID-19 diagnostic tests at no cost to the consumer, including those purchased over the counter, but they may choose to continue doing so. For COVID-19 vaccines, health plans still must provide full coverage at no cost for in-network providers but may impose cost-sharing for out-of-network providers.