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Claim Your Free Copy of Overtime Primer: Highlights from the New Regulations

The federal DOL overtime regulations go into effect this year. Are you ready?


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This report includes a summary of key changes, including the salary level test and salary basis test.

As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.

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May 22, 2009
Rule on 401(k) Investment Advice Delayed Again

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) has further extended the applicability and effective dates of the final rule on investment advice under the Pension Protection Act. The new effective date is November 18, 2009.

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On January 21, 2009, the department published a final rule governing the provision of investment advice under the Employee Retirement Income Security Act's prohibited transaction provisions.

On March 20, the department extended the applicability and effective dates of the final regulation from March 23 to May 22. The department has since determined that additional time is necessary to consider the legal and policy issues raised by comments on the final rule.

The PPA amended the Employee Retirement Income Security Act by adding a new prohibited transaction exemption that allows greater flexibility for participants of 401(k) plans and individual retirement accounts to obtain investment advice. On January 21, 2009, the department published the final rule.

The department said it decided to postpone for 60 days the effective and applicability dates of the final rule to give it time to review legal and policy issues raised by many of the 26 public comment letters received. The department extended the effective and applicability dates to May 22, 2009.

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