Republican proposals would let brokers and insurance agents sell proprietary products and earn commissions without accessing the prohibited transaction exemptions created in the fiduciary rule.

Industry professionals told of fiduciary rule ramifications they've seen in the marketplace since June 9, the first phase of the rules two-pronged implementation schedule.

The proposed fiduciary-rule-killing law says commission-based compensation and recommendations on proprietary investment products do not in themselves violate the best interest standard.

The DOL says it will no longer defend the fiduciary rule's restriction on class-action waivers.

As part of the new controversial budget deal for Illinois, the state pensions will enroll new hires in hybrid 401(k) plans as the state tries to stem pension hemorrhaging.

The restriction on writing class-action waivers into the BIC Exemption was designed as the rules primary enforcement mechanism. Labors attorneys say they are dropping the defense of the class-action provision.

The DOL is accepting comments on delaying implementation of the fiduciary rule until July 21 and comments on proposed revisions to the rule until August 7.

Pension funding, liabilities numbers change with the controversial yet permissible accounting practice of pension smoothing.