Fiduciary Issues

Regulatory and Legislative

DOL Fiduciary Rule Has Left OMB

A final rule titled “Retirement Security Rule: Definition of an Investment Advice Fiduciary” has left the Office of Management and Budget (OMB).

April 11 2024

Regulatory and Legislative

DOL Releases Final Rule on QPAM Exemptions

The Department of Labor has issued a final rule “Amendment to Prohibited Transaction Class Exemption 84-14 (PTE 84-14) for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption)”.

April 03 2024

Regulatory and Legislative

DOL Final Rule on QPAM Exemptions Has Left OMB

A final rule titled, “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager,” (QPAM) has left the Office of Management and Budget—suggesting that official release may come soon.

March 18 2024

Regulatory and Legislative

PBGC Updates Interest Assumptions for Valuing Benefits for Second Quarter 2024

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2024.

March 13 2024

Regulatory and Legislative

DOL Sends Final Fiduciary Rule to OMB

The Department of Labor has sent a final fiduciary rule titled “Retirement Security Rule: Definition of an Investment Advice Fiduciary” to the Office of Management and Budget (OMB). Text of the final rule is not available until after OMB completes their review. A proposed rule released last fall would expand the definition of investment advice fiduciary under ERISA and would make amendments to prohibited transaction exemptions regarding eligibility and conditions for exemption. A 60-day comment period on the proposal ended January 2, 2024.

March 11 2024

Regulatory and Legislative

DOL Final Rule on QPAM Exemptions at OMB

The Office of Management and Budget has received a final rule from the Department of Labor (DOL) titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager”.

November 15 2023

Regulatory and Legislative

DOL Releases Proposed Fiduciary Rule

The Department of Labor (DOL) has released a new proposed rule updating the definition of an investment advice fiduciary under ERISA.

October 31 2023
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