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;The financial services provider holds itself out as a trusted adviser by either: (1) specifically stating it is acting as a fiduciary under Title I or II of ERISA, or (2) making its recommendation in a way that would indicate to a reasonable investor it is acting as a trusted adviser making individualized recommendations based on the investor’s best interest.; Again, in providing clarity for HR professionals, the final rule explicitly states: “The Department also would not consider salaries of human resources employees of the plan sponsor to be a fee or other compensation in connection with or as a result of the educational services and materials that they provide to plan participants and beneficiaries.”

Objection No. 1: “I don’t believe that the market compensation data you’re presenting or referencing is accurate or relevant to our organization.”

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“No one will argue that pay is critical — it’s No. 1 for attraction and retention,” said Cecile Chang, managing director and Health & Benefits global growth leader at WTW.

Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Benefits; ;Employee Compensation; ;Total Rewards; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

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Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Benefits; ;Finance and Budgeting; ;Well-Being; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

House of Representatives narrowly passed H.R. 1 , labeled by President Donald Trump and his administration as “The One Big, Beautiful Bill”.

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