Trump Labor Department regulators will inherit a workplace retirement plan industry eager for clearer investment standards, particularly on an embattled 401(k) rule, according to Biden’s outgoing chief benefits regulator.
Assistant Secretary for Employee Benefits Security Lisa M. Gomez told Bloomberg Law she believes the incoming administration “does need to say something” to a regulated community straining to distinguish between multiple court orders and decades-old fiduciary investment regulations, because, “as it stands right now, there are too many unknowns.”
Gomez has overseen DOL’s Employee Benefits Security Administration under Biden for more than two years, and will exit when President-elect
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