On March 22, 2019, the DOL announced the official publication of its Notice of Proposed Rulemaking in the Federal Registrar and the commencement of the 60-day period for public comments. All public comments on the proposed new rule must be received by May 21, 2019 in order to be considered by the DOL in preparing its final rule. BakerHostetler’s Employment Group is available to assist in the preparation and drafting of any comments for submission to the DOL on this matter.
Once published, the DOL’s Final Rule will provide the date that the new rule will go into effect. Based upon the DOL’s current timing, it appears that the agency is targeting January 2020 for the new rule to go into effect.