Insurers Challenge New Fiduciary Rule on Retirement Plans Proposed by the U.S. Department of Labor

Pieter Gunst01 mins

Insurers have mobilized to contest the new fiduciary rule on retirement plans proposed by the U.S. Department of Labor (DoL). The complaint against the rule suggests that this new 2023 regulation is reiterating the missteps of the DoL’s 2016 rule, which was ultimately unsuccessful. Legal professionals should be aware of the developments in this case, as the ramifications could significantly impact the regulatory landscape for retirement plans. Further details on the complaint can be explored here.