DOL Reopens Retirement Plan Exemption Proposal Comment Period

The US Labor Department will reopen the comment period for a set of changes it proposed to the legal exemption process plan sponsors and financial institutions use to administer workplace retirement plans.

DOL’s Employee Benefits Security Administration already extended the comment period on the proposed rule (RIN 1210-AC05) once in April. Now regulators say they will host a public hearing on the proposal Sept. 15, and reopen the comment period then, according to a noticereleased Friday.

The proposed regulation would adjust language the agency uses to define terms and update or clarify timing applicants have to provide ...