HR Compliance Tracker

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Big changes are happening in the realm of workplace compliance issues and labor laws in the United States. Noncompliance with government regulations can have serious consequences—and can cost your business big time. Keep up with what's happening between the government and the workplace.

This HR Compliance Tracker will be your go-to place to stay updated on some major workforce compliance issues and trends you’ll see in the future, and you'll also learn how you can prepare your business.

 

Fiduciary law to go into effect June 9 without delay

U.S. Labor Secretary, Alexander Acosta, announced that the Fiduciary Rule will go into partial effect on June 9, 2017 without further delay. The rule will still go into full effect on January 1, 2018. This rule expands the definition of “investment advice fiduciary” under the Employee Retirement Income Security Act of 1974 (ERISA). This expanded definition will include financial professionals (brokers and planners) who work with retirement plans as fiduciaries. 

Now is an important time for HR managers to evaluate their current retirement plans, vendors, and advisers. You want to ensure your employees receive the best plans for their families and the future.

Topics: Employee Benefits, HR News