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Department of Labor

Gotbaum Tells Council Lump-Sum Cash-Outs Are Like Cigarettes: Legal but Bad for You

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Joshua Gotbaum, director of the Pension Benefit Guaranty Corporation, told the ERISA Advisory Council Aug. 29 that pension plan lump-sum cashouts to retirees are like cigarettes: They are legal, many people like them and they are bad for you.

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Groups Say Lifetime Income Guidance Should Be Flexible, Provide Protections

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Any guidance promulgated by the Department of Labor’s Employee Benefits Security Administration on lifetime income illustrations should be optional for retirement plans and provide fiduciary protections, retirement and financial industry groups say in comment letters.

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How much monthly income will that 401(k) get you?

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If you think figuring out how much money to put into your retirement savings accounts is complex, wait until it's time to take money out.

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401(k)s are a sham

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Duped by a DIY retirement dream, the elderly now face staggeringly low living standards

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Labor secretary's job might be new, but his plate is full

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Thomas Perez, the new secretary of labor, will have little time to make an immediate imprint on retirement issues as he inherits the already packed regulatory agenda of the Employee Benefits Security Administration, including a controversial new fiduciary rule.

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Congress should protect investors, not undermine them

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In 1975, when the U.S. Department of Labor issued a rule defining who is an investment advisor under the Employee Retirement Income Security Act, the Vietnam War had just ended,  Steve Jobs was tinkering around his dad’s garage, and Angelina Jolie was barely in diapers.

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“Retail Investor Protection Act” Does Not Protect Investors: Coalition

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The controversial “Retail Investor Protection Act, recently introduced by Rep. Ann Wagner (R-MO), is gaining opposition from coalitions set on protecting investor interests.

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Lost Defined Benefit Plans a Challenge For Those Nearing Retirement, Speakers Say

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Pension specialists recommended June 4 that the Department of Labor’s Employee Benefits Security Administration develop a lost-plan registry to help individuals find retirement income when they have difficulty locating a former employer.

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Groups Give Early Praise to DOL ANPRM On Lifetime Income as a ‘Good First Step’

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The Department of Labor’s recently issued advance notice of proposed rulemaking that would require lifetime income illustrations to be included on pension benefit statements is a "good first step" toward furthering retirement income education, retirement industry groups told BNA in a series of interviews.

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401(k) rollover study triggers call for action

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A new Government Accountability Office report highlighting the pitfalls of rolling over 401(k) plan accounts is sparking demand for clearer procedures and stronger consumer protections from companies and the federal government.

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