Legal

The DOL has released answers to 34 questions about the Best Interest Contract Exemption in the fiduciary rule.

The IRS has announced its cost-of-living adjustments affecting dollar limitations for pension plans for 2017. Those hoping for COLAs on 401(k), 403(b), most 457 plans, and the federal governments Thrift Savings Plans are out of luck, however.

Rumors circulating that the DOL will delay implementing the fiduciary rule are unfounded, but the outcome of the Presidential election could affect the rule, ERISA attorneys Campbell and Reish say.

Let's give Anthony Scaramucci, an economic adviser to Trump, the benefit of the doubt when he compares the fiduciary rule to the 1857 Supreme Court ruling which held that African-Americans were property, not U.S. citizens. If it were me, I would apologize and move on.

What Thrivent is asking for is relief from the provision of the fiduciary rules Best Interest Contract Exemption that prohibits class-action waivers in contracts.

As states move on retirement plans, questions remain as to whether or not state payroll deduction programs would inadvertently cause participating employers to establish ERISA-covered plans.