White House Unveils Rules To Protect Retirement Plans

Law360, New York (February 26, 2010, 5:47 PM EST) -- Vice President Joe Biden unveiled two U.S. Department of Labor proposals Friday aimed at providing greater protections for workers with 401(k) and individual retirement accounts, including new restrictions for investment advisers.

The proposed changes, introduced during a White House update on the efforts of the Middle Class Task Force, include a proposed rule on investment advice and a final rule on multiemployer plan transparency.

The investment rule is designed to ensure workers receive unbiased advice in making investment decisions, while the transparency rule would allow workers...
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