The regulations, which were made public on Jan. 21, 2009 and were to take effect on March 23, would have allowed 401(k) participants and IRA holders to receive investment advice by a computer model certified as unbiased and though a fiduciary adviser compensated on a "level-fee" basis.
In February, the agency reopened the public comment period on the investment advice rules and received 26 letters. DOL “has decided to postpone for 60 days the effective and applicability dates of the final rule,” so that the agency can evaluate questions of law and policy regarding the rules, officials state in the notice.
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