DOL Closes In on Two More Employee Benefit Regulations

Nov. 25, 2016, 5:52 PM

The Department of Labor is closing in on finalizing two more employee benefit plan regulations in the final weeks of the Obama administration.

The DOL Nov. 23 sent two final rules to the Office of Management and Budget for approval before they are released to the public. The first rule (RIN:1210-AB76) would allow municipalities and political subdivisions to design and operate retirement plans for private-sector employees. The rule was proposed in August and has the support of cities such as New York City and Philadelphia. But groups including the American Benefits Council and American Retirement Association have expressed ...

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