The Department of Labor (DOL) announced that it now expects to release its proposed regulations on ESOP valuation in March 2024. The DOL previously stated that it expected to issue the proposed regulations by the end of 2023. The WORK Act, part of the SECURE 2.0 Act of 2022, requires the DOL to issue valuation regulations for ESOPs. The announcement does not specify a date in March, and it is not binding -- the proposed rules could be released before or after March.