With the change of Presidential administrations, there was certainly a discussion on what the Department of Labor (DOL) may do under President Trump regarding 401(k) plans. As far as regulations, an Executive Order may halt any significant change.
Under a new Executive Order signed by President Donald, which is supposed to “unleash prosperity through deregulation,” whenever a federal agency promulgates a new rule, regulation, or guidance, it must identify at least 10 existing rules, regulations, or guidance documents to be repealed.
The executive order requires that the total incremental cost of all new regulations, including repealed regulations, be significantly less than zero.
If the DOL wants to unveil a regulation on the fiduciary rule, they would have to identify 10 regulations or rules to repeal. So don’t expect a lot of DOL regulaations this year.
