In late July, two separate federal district courts granted motions to stay the effective date of the 2024 DOL Retirement Security Rule and amended prohibited transaction exemptions (the Rule), preventing the Rule from taking effect while the underlying litigation is pending. NAFA is a plaintiff in one of the lawsuits, along with four of our sister insurance trade associations. The stay was not restricted to the plaintiffs and their respective members but rather was granted on a nationwide basis, applicable to the entire industry. The decision to grant the stay was a sweeping one, with the Court finding that it was “virtually certain” that the Rule exceeded the DOL’s statutory authority and that, without immediate relief, the injuries resulting from the Rule would be concrete and irreparable.