The process to approve a new Fiduciary Rule by the Department of Labor is proving to be more of a marathon than a sprint. On August 9, 2017, the Department of Labor requested to delay review and applicability of the long-awaited fiduciary rule until July 1, 2019. Here we unpack what led to this, what it means for you, and what direction we can most likely expect things to go next. 

Since Donald Trump's inauguration on January 20th, 2017, things in Washington, DC have been eventful, to say the least. Of course, depending on who you ask, opinions on recent developments and predictions about what is to come for Americans vary extremely from positive to negative. No matter which side of the political spectrum you fall on, it's safe to say that many changes are about to happen and the employee benefits industry will not be immune to them.

Many workers may not appreciate the work that their Human Resources department handles, but a well-oiled HR machine may make or break the overall morale and loyalty of employees. In turn, this contributes to the overall success of an organization. Despite this, we find that Human Resource and Employee Benefit professionals are typically short on time, resources, and in some cases, support. This is all the more reason that those working in HR and Benefits need to take extra steps to keep up with new trends, services, and developments within the industry to excel within their important roles. In our 2016 Employee Benefit Trends Report, we highlight some of the significant updates that help both HR professionals and the employees they support.

Here, we've highlighted what we feel are the top three trends most important to ensuring you're creating and maintaining a valuable benefits program within your organization for 2017. 

Last week President Trump halted implementation and enforcement of the new DOL Fiduciary Rule scheduled to take effect in April. What does this mean for your company and employees? 

You may have heard about announcement of new Department of Labor (DOL) fiduciary rules today. In reviewing the final regulation’s highlights – I think the DOL has worked very closely with many industry practitioners in an effort to construct a workable rule that best serves working Americans while also recognizing the importance of advisors and service providers in creating successful retirement plans.

Every CFO and their finance department is intently focused on managing the corporation or organization’s cash and bottom line. Metrics are reviewed monthly, if not more frequently, to understand the company’s revenues, liabilities, budget, capital reserves, and operating capital (cash). Additionally, concerted efforts are made to get the best return on a corporation’s cash assets – which in the large corporate market can serve as a catalyst to acquisition activity, stock buybacks, and other strategies.

In August of 2015, the Dow Jones Industrial Average (DJIA) and the Standard & Poor’s 500 Index (S&P 500) fell by more than 10% for the first time in over 1,400 days. This correction capped the 3^rd longest streak in the history of the US stock market*, which had seen company values in both indices more than tripled since March of 2009.

 This article was authored by Theodore P. Stein, Esq. of Offit | Kurman. 

The Affordable Care Act (“ACA”) reporting requirements for employers shifts into high gear this year.  In 2016, for the first time, employers who sponsor group health plans are required to file annual returns with the IRS describing their health plans and the health plan choices made by their employees.

The Supreme Court released their ruling and written commentary on a landmark ERISA case, Tibble v. Edison International. Employees of Edison International accused their employer of favoring high-cost mutual funds over lower-cost options. On a 9-0 vote, the court threw out an appeals court ruling that limited the number of claims that could be made in the case due to a statute of limitations.

A version of this post originally appeared on Employee Benefit News  

After years of discussion, the Department of Labor has finally proposed a new rule altering the long-standing “fiduciary standard”. Controversial and contested from its initial discussions in 2010, these new regulations have been framed as a way to help the middle class avoid excessive fees and poor advice from financial professionals who do not already serve as a fiduciaries.