Last week, U.S. Labor Secretary Alexander Acosta announced that the controversial ERISA "conflict of interest" regulation will not be further delayed and will go into effect on June 9th. Employers who provide 401(k) plans or other qualified retirement plans should know how the new fiduciary rule affects their plan. Additionally, though the President signed legislation removing a safe harbor exemption from ERISA for state mandated payroll deduction IRA plans, California is pressing ahead with its Secure Choice program. When fully implemented, this program will require California employers with 5 or more employees that don't provide a retirement plan to participate in the state run program.
To learn more about these new developments in employee benefits regulation, check out this episode of HR LEGALCAST with Aaron Silva in conversation with special guest, employee benefits attorney Scott E. Galbreath.
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