Labor Department Looks To Boost 401(k)s

Law360, New York (September 26, 2006, 12:00 AM EDT) -- The U.S. Labor Department proposed new rules Tuesday that will entice more companies to automatically enroll their workers in 401(k) plans.

For one thing, if the rules become law, businesses will no longer be legally liable if employees lose money through their investments.

As part of the proposal, employers will also have to offer a broad range of investment alternatives, including life-cycle investment funds, balanced investment funds and professionally managed accounts. Workers who do not chose an investment strategy would then automatically be enrolled in a...
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