Investment Advice Regulations Postponed Again
In January, 2009, the Obama Administration suspended the effective date of the final participant investment advice regulations until March 23, 2009 (see Investment Advice, Regulations – Final? , Benefit Beat, February 2009, and Proposed Rules: Investment Advice Exemption for 401(K) Plans and IRAs , Benefit Beat, September 2008).
A couple weeks ago, the Department of Labor announced that it will delay the effective date of these final regulations yet again to allow additional time for legal and policy review of the rules. The final regulations are now purported to become effective May 22, 2009.
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