LABOR: New advice proposal floated
The Labor Department recently proposed rules aiming to ensure that workers receive unbiased investment advice for their 401(k)s and to provide transparency about such retirement plans.
The Labor Department recently proposed rules aiming to ensure that workers receive unbiased investment advice for their 401(k)s and to provide transparency about such retirement plans. Essentially, the rules would prohibit advisers from receiving compensation derived specifically from investment options chosen by the plan or participants that had been recommended by the adviser. Additionally, computer models used for offering advice would have to be certified as objective and unbiased. For more details and information on submitting comment by May 5, go here.
