Last year, the Department of Labor (DOL) issued a final fiduciary investment advice regulation that significantly broadens the types of advice considered fiduciary investment advice under ERISA Section 3(21) (final rule) and which is currently scheduled to become effective on April 10, 2017. Since the final rule, the DOL has also issued two substantive sets of frequently asked questions (FAQs) that clarify and explain financial service provider issues under the final rule.

Practical Law developed the Fiduciary Investment Advice Toolkit to help practitioners, their clients, and plan sponsors get up to speed quickly on the final rule. It includes a collection of resources addressing the DOL's fiduciary investment advice guidance, such as:

Practical Law Employee Benefits & Executive Compensation will continue adding resources to this toolkit, and updating the resources within it, to address any new or amended guidance that may impact the DOL's final rule.