Department of Labor (DOL) has issued a final rule to re-define who is rendered a fiduciary
Overview. The Department of Labor (DOL) has proposed a change to the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) that would expand the scope of those who become fiduciaries.n April 14, 2015, the DOL announced a re-proposal of the rule, which is now followed by a period for public comment. In May, the DOL granted a 15 day extension to the original 75 day comment period, resulting in a total of 90 days for public comment.