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Department of Labor

Timing of Fiduciary Rule for Retirement Plans Questioned

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If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest.

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House Democrats urge caution on DOL fiduciary-duty rule

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A group of 30 House Democrats has warned Labor Secretary Thomas Perez that a pending rule that would raise investment advice standards for retirement-plan advisers could hurt investors with modest assets.

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Corporate pension execs wary of derisking fallout

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Corporate executives are bracing for regulatory judgment calls on how they handle derisking through lump-sum payments and annuity purchases, lobbyists say.

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ERISA at 40 – The past puts pension law in perspective

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The Employee Retirement Income Security Act (“ERISA”), the law governing private retirement plans, has changed quite a bit since it was signed into law in 1974. There have been numerous amendments, court cases, regulatory actions and other developments.

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This week’s other huge (but little-noticed) fight: Wall Street’s newest scheme

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While we're all distracted, a quiet battle this week could seriously affect your finances. Here's what's at stake

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Target date funds drive up 401(k) fees

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Final language being hammered out on new fee disclosure rules for 401(k) funds will hopefully put pressure on plan sponsors to take a hard look at the double-layering of fees by target date mutual funds.

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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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