Small Business Retirement Plan Rule Moves Closer to Release

A Labor Department proposal that would expand access to retirement savings plans to more small-business employees has completed review by the White House Office of Management and Budget.

Publication of the proposed rule (1210-AB88) could happen in days to weeks, and then a review period that includes public comment. The rule was also included on the to-do list for the DOL’s Employee Benefits Security Administration in the Oct. 17 unified regulatory agenda, a periodical listing of regulatory and deregulatory tasks for each agency. The agency didn’t list an expected date it for its finalization.

OMB review is the ...