DOL Fiduciary Definition Re-proposal

Department of Labor (DOL) officials discussed the long-awaited fiduciary definition re-proposal at a recent ERISA Advisory Council Meeting and on Capitol Hill. Phyllis Borzi, assistant secretary of the Employee Benefits Security Administration (EBSA), stated to the Advisory Council that the re-proposal will be issued alongside proposed modifications of several prohibited transaction class exemptions, with the goal of providing a “complete package for people in the private sector to look at.”  Click here for the Plan Sponsor article.