According to a blog post by Secretary Perez, the Department of Labor has submitted its proposed rule to OMB for review. Typically, OMB review takes 30 to 60 days (or longer). On this timetable, DOL still may hit its most recent target of “Spring” for publication of a proposed rule.
While at OMB, the public has no details on the particulars. The specific provisions only will be revealed once the proposed rule clears OMB review and is published in the Federal Register.