Friday, January 3, 2014
DOL - the 2014 Pipeline!
In case you missed it, recently the DOL published a list of initiatives for 2014. It was written about in an article from Plan Adviser magazine, linked here.
As a summary of this, here are the eight items on the DOL’s published agenda for 2014 that impact ERISA Retirement Plans (as opposed to IRAs, Health Plans, 457 plans or non-ERISA 403(b)s).
2.) Lifetime Income Illustrations – Targeting August 2014 – DOL is still interpreting comments. Seems like this idea has legs behind it despite some of the obvious deficiencies in the accuracy of calculations.
a. Explore whether and to what extent regulatory guidance on fiduciary requirements and safeguards for such arrangements are appropriate (b/c they could be problematic) – RFI expected in April of 2014