Labor Department proposes 60-day delay of retirement savings rule
The Labor Department on Wednesday announced a proposal to push back the implementation of a controversial retirement savings rule by 60 days, giving officials more time to determine whether the rule should be revised or eliminated.
Without a delay, the fiduciary rule would take full effect April 10. But under the proposal, which will be officially published Thursday, the rule would not take full effect until June 9.
The move comes after President Trump signed a memo ...