{"id":21437,"date":"2024-02-22T21:30:36","date_gmt":"2024-02-22T21:30:36","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/02\/22\/final-dol-fiduciary-rule-likely-out-this-year\/"},"modified":"2024-02-22T21:30:36","modified_gmt":"2024-02-22T21:30:36","slug":"final-dol-fiduciary-rule-likely-out-this-year","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/02\/22\/final-dol-fiduciary-rule-likely-out-this-year\/","title":{"rendered":"Final DOL Fiduciary Rule Likely Out This Year"},"content":{"rendered":"
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The Labor Department\u2019s revised fiduicary rule proposal will likely be finalized this year, with a Jan. 1, 2025, effective date, according to ERISA attorneys.<\/p>\n

During their Inside the Beltway webcast Thursday, Fred Reish and Brad Campbell, partners at Faegre Drinker, agreed that Labor will likely file its revised fiduciary plan with the Office of Management and Budget for review in the next few months \u2014 sometime this summer.<\/p>\n

That timeline \u201cseems to be driven, in part, by the elections,\u201d Campbell said. The current administration \u201cis going to want this rule in place by Jan. 1 so that regardless who wins, it\u2019s an issue that\u2019s already taken effect.\u201d<\/p>\n

Two of the most controversial sections of the rule continue to be<\/a> the \u201cdefinition of a single recommendation as fiduciary advice, and the impact [of the rule] on independent insurance agents,\u201d Reish stated.<\/p>\n

The comment period on Labor\u2019s plan ended Jan. 2. Labor has been busy reviewing more than 19,000 comments<\/a>.<\/p>\n

Campbell, a former head of Labor\u2019s Employee Benefits Security Administration, stated on the webcast Labor\u2019s plan is \u201dextremely controversial.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Labor Department\u2019s revised fiduicary rule proposal will likely be finalized this year, with a Jan. 1, 2025, effective date, according to ERISA attorneys. During their Inside the Beltway webcast Thursday, Fred Reish and...<\/p>\n","protected":false},"author":1,"featured_media":21438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/02\/final-dol-fiduciary-rule-likely-out-this-year.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21437"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21437"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21438"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}