“President Barack Obama is not expected during his last State of the Union address to run through a to-do list of upcoming priorities. Rather, he will instead recount the achievements he’s made during his eight-year presidency. One of those achievements he likely will tout will be strengthening protections for retirement savers via the Department of Labor’s rule to redefine the definition of fiduciary under ERISA.
“Industry officials say DOL’s final rule is headed this month to the Office of Management and Budget for review. Typical OMB review periods last 90 days, but an expedited review could lob the rule onto the advice industry playing field before April.”
Read the full Think Advisor article by Melanie Waddell here.