The Impact of the Upcoming Re-Proposed Department of Labor Fiduciary Regulation on Small Business Retirement Plan Coverage and Benefits

The purpose of this research is to better understand the impact that a re-proposed Department of Labor regulation on the fiduciary status of persons providing investment assistance could have on small business qualified plans, particularly the impact on employees. The re-proposed regulation is generally expected to prohibit retirement plan providers and the advisors who sell retirement plans from assisting employers in the selection and monitoring of funds in the retirement plan. Instead, employers could either perform the functions themselves or hire an independent expert to do it. Please see Appendix 1 for a fuller description of the contemplated content of the re-proposed regulation, as provided to survey respondents.

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