Browsing: Fiduciary rule

Newsbytes

Following a meeting last month with bankers, ABA staff, the Department of Labor and the Internal Revenue Service, ABA today filed additional comments on DOL’s proposed updates to Form 5500 (Annual Return/Report of Employee Benefit Plan).

Newsbytes

The Labor Department today issued a series of frequently asked questions on its final rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act and Internal Revenue Code.

Human Resources

A 900-page proposal by the Department of Labor to update Form 5500 is “overbroad and significantly exceeds the requisite information necessary or appropriate for effective… reporting,” ABA said in a comment letter today.

Newsbytes

The Department of Labor today issued proposed revisions to Form 5500 Annual Return/Report of Employee Benefit Plan that must be filed by all private sector employers under the Employee Retirement Income Security Act and the Internal Revenue Code.

Newsbytes

A group of nine financial services and business trade groups today filed a lawsuit against the Department of Labor over its recent fiduciary rule, which greatly expands the definition of “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.

Newsbytes

The Department of Labor’s newly finalized rule expanding the definition of who counts as a fiduciary under the Employee Retirement Income Security Act is estimated to cost $31.5 billion over the next decade, along with requiring nearly 57,000 hours in compliance efforts.