Legal

To be well-positioned for the possibility of a Department of Labor audit, plan sponsors need to watch out for common errors, which include late deposits of employee contributions into the plan, failure to implement employee deferral elections and failure to provide required notices.

The Federation of Americans for Consumer Choice's lawsuit states that the Department of Labor's new "rushed" fiduciary rule is similar to a proposal struck down by the federal appeals court a decade ago.

The financial stress your employees bring to the office has an impact on their effectiveness, but supporting them in their retirement planning can help improve their peace of mind and, subsequently, your company's overall success.

On Tuesday, the Department of Labor finalized its Retirement Security Rule that updates the definition of an investment advice fiduciary, while critics say millions could now lose access to professional financial guidance.

The White House Office of Management and Budget has concluded its review of the Department of Labor's new Retirement Security Rule, indicating that the controversial new rule will become final sometime this Spring.

The DOL's latest iteration, proposed in 2023 and soon to become final, will ensure that advisors prioritize their clients' best interests when recommending investments, prompting employers to make necessary adjustments.