Publication

"DOL’s Final Advice on Participant Directed Plans: 'On the Level and Get with the (Computer) Program'?"

On October 25, 2011, the Department of Labor ("DOL") issued final regulations (the "Final Regulations")1 designed to better provide investment advice to participant-directed retirement plans, such as 401(k) plans and individual retirement accounts in a manner intended to manage the broad conflict of interest rules under the Employee Retirement Income Security Act of 1974, as amended and Section 4975 of the Internal Revenue Code of 1986, as amended. 

This Stroock Special Bulletin looks at key changes (and challenges) in the Final Regulations. 

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