Overview
Erin Turley commented on the Department of Labor’s new rule for multiple employer retirement plans. “The rule is likely going to be significant for PEOs [professional employer organizations] because it clears up a grey area under which they have been operating,” Turley said. “Previously, they only had a safe harbor to operate under the IRS code. Now, they can operate under ERISA [the Employee Retirement Income Security Act]. This will give PEOs and their clients peace of mind.”