How Did President Trump Change the DOL's Fiduciary Rule?

President Trump has directed the Secretary of Labor to re-examine the Department of Labor’s (DOL) final so-called “Fiduciary Rule” to determine whether it “may adversely affect the ability of Americans to gain access to retirement information and financial advice,” and to prepare a new cost-benefit analysis of the Fiduciary Rule that focuses on potential adverse impacts on investors, retirees, and the retirement services industry. If (as anticipated) the results of this analysis indicate adverse impacts, President Trump has ordered the DOL to “publish for notice and comment a proposed rule rescinding or revising the Rule, as appropriate and as consistent with law.” What does this mean for employers who sponsor 401(k) plans?