Tag: 401ks
Retirement Savers Should Be Protected Against Costly Financial Advice – Especially for Rollover IRAs
But courts block effort to curtail conflicts of interest. In October 2023, President Biden announced that the Department of Labor (DOL) would propose a new rule to protect people saving for retirement against conflicted advice. Under the current state of play, DOL regulations regarding advice to employer-sponsored plans are governed by ERISA’s fiduciary rule, whic…
Older high-income households with a 401(k) gained; everybody else lost. The Federal Reserve’s 2022 Survey of Consumer Finances (SCF) summarizes changes in family finances between 2019 and 2022 – three years of COVID and economic disruption, and 2022 was also a terrible year in terms of stock and bond returns. At the same time, t…
