DOL Disability Regulations Finally Taking Effect
There has been a lot of back and forth regarding the implementation of the new Department of Labor (DOL) Disability Regulations. The final regulations were originally going to be effective January 1, 2018. As a result, many plan sponsors began amending their plans to become compliant with the new regulations. In the fall of 2017, DOL announced that it was going to be examining the regulations further. That was a fairly unexpected step and many analysts anticipated that the DOL was going to modify the regulations or eliminate them entirely. Given the ambiguity, some plans continued to move forward with plan changes while others waited for additional guidance from the DOL. Early in January, DOL announced that there are no additional changes to the final regulations and that they will become effective April 1, 2018. Plans sponsors with plans who are required to comply with the new DOL Disability Regulations should now incorporate them into their plans, if they have not already.