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Department of Labor

4 Countries with Better 401(k) Plans than the United States

News Item

The United States isn't the only country that encourages workers to use retirement accounts to save for the future. Some other countries provide retirement accounts similar to 401(k)s that offer clearer disclosures, simpler investments, and lower costs than most retirement plans in the United States.

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Looming election slams brakes on fiduciary regs

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DOL and SEC likely will delay any moves until after Nov. vote

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Many Experience Challenges Regaining Employment and Face Reduced Retirement Security

Publication

The number of workers age 55 and over experiencing long-term unemployment has grown substantially since the recession began in 2007. This raises concerns about how long-term unemployment will affect older workers’ reemployment prospects and future retirement income.

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On Defined Contribution Plans, U.S. Should Follow Other Countries: Report

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This week U.S. defined contribution plan sponsors received a startling piece of news: At least four countries outside the U.S have better fee disclosure practices than those in the U.S. The report, issued by the General Accounting Office in March, reviewed best practices in hopes of enlightening U.S. retirement plan providers and regulators.

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Think Paperless is the Way to Go? When It Comes to Financial Disclosure, Not Always, Says Coalition

News Release

A group of labor, women’s, minority, and consumer organizations, representing millions of Americans, sent a letter to the Department of Labor (DoL) today, strongly supporting the Department’s current rules regarding how participants receive critical

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Keeping Track of Your Retirement Investments

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Employees are transient. Look at your own life: Even if you’re in your 20s or early 30s, it’s possible you’ve already worked with several different employers. One report from the Bureau of Labor Statistics stated that the boomer group studied held an average of 11 jobs while they were between the ages of 18 and 44.

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Labor Department not deterred in fiduciary rule proposal

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The Labor Department is not going to let push-back from the financial services industry delay its fiduciary rule for advisers who handle retirement plans - but that does not mean the regulation will be out anytime soon.

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Should state government offer a retirement plan for private citizens?

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State government should offer a retirement plan to the increasing number of people whose companies don't provide a pension or a 401(k) savings program, labor groups and other advocates this week told a legislative panel.

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Better Agency Coordination Could Help Small Employers Address Challenges to Plan Sponsorship

Publication

Based on available data, about 14 percent of small employers sponsor some type of retirement plan.

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Pension Reformers Should Not Promise Freedom From Fiduciary Duties, Borzi Says

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The success of private pension reform will depend on whether proponents can offer models that are more attractive to employers than those available within the current system of private pensions and retirement savings, a senior Department of Labor official said Feb. 22 at a pension event focused on innovation.

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