NEW LAW PROTECTION FOR PUBLIC EMPLOYEES IN PUBLIC HEALTH EMERGENCIES In recognition of the essential role of public employees during this pandemic, New York State has adopted legislation requiring public employers to plan for similar emergencies in the future. The New York State Labor Law has been amended by adding a new section (27-c)…
Update on Department of Labor’s Fiduciary Rule The United States Department of Labor (“DOL”) has proposed a new rule that would expand the definition of “investment advice fiduciary” under the Employee Retirement Income Security Act 1974 (ERISA). This legislation, which was scheduled to be phased in April 10, 2017, will automatically elevate all financial professionals…
NEW Overtime Regulations: Is Your Business Impacted by NEW Overtime Eligibility Regulations? To ensure that the intended overtime protections of the Fair Labor Standards Act (FLSA) are fully implemented, the Department of Labor has updated its regulations. Employers have until December 1, 2016 to comply with a new federal overtime standard that will drastically increase…
The DOL Fiduciary Rule – From the Opposition’s Point of View The proposed United States Department of Labor (“DOL”) fiduciary rule has earned itself many enemies. A coalition against the rule was formed in October 2015 and is pushing hard to stop the rule from being enacted. The U.S. Chamber of Commerce and Primerica are…
What Changes Will the DOL Fiduciary Rule Bring? Although the proposed United States Department of Labor (“DOL”) fiduciary rule is not necessarily final, it soon will be, and any version of the rule is going to significantly impact the way financial advisors practice. Here’s a snapshot of the details: Who: all advisors and brokers –…
Major Changes Coming for Retirement Investments Brokers and other financial planners who manage retirement investments are in for a big change. The United States Department of Labor (“DOL”) has proposed a rule targeted at forcing brokers to very clearly put the client’s interests above their own. The rule was first proposed in 2010 and has…
