DOL Urged To Update Guidance On 401(K)s For Ex-Employees

Law360, New York (April 4, 2013, 7:18 PM EDT) -- Lawmakers on Wednesday urged the U.S. departments of Labor and the Treasury to issue new guidance to protect 401(k) participants when they leave an employer, citing a recent U.S. Government Accountability Office report finding that workers often receive misleading marketing information.

Sens. Tom Harkin, D-Iowa, and Bill Nelson, D-Fla., and Rep. George Miller, D-Calif., released the GAO investigation publicly Wednesday and fired off a letter to the Labor and Treasury departments, calling on the agencies to protect consumers from deceptive marketing and to establish uniform standards...
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