Proposed rule published on Dec. 12 by Labor Department

The US Labor Department published a three page proposed rule on Dec. 12, according to the U.S. Government Publishing Office.

The proposed rule is focused on Amendments to the Abandoned Plan Regulations.

The Department provides billions in unemployment insurance, which peaked around 2011 though spending had declined before the pandemic. Downsizing the Federal Government, a project aimed at lowering taxes and boosting federal efficiency, claimed the Department funds "ineffective and duplicative services" and overregulates the workplace.

Notices are required documents detailing rules and regulations being proposed by each federal department. This allows the public to see what issues legislators and federal departments are focusing on.

Any person or organization can comment on the proposed rules. Departments and agencies must then address “significant issues raised in comments and discuss any changes made,” the Federal Register says.

Notices published by the Labor Department on Dec. 12

Title
Amendments to the Abandoned Plan Regulations
Notice of Proposed Amendment to Prohibited Transaction Exemption 2006-06 (PTE 2006-06) for Services Provided in Connection With the Termination of Abandoned Individual Account Plans