The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:DoL Takes On Advice For IRAs, 401ks Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 22, 2008

DoL Takes On Advice For IRAs, 401ks

by: Neil Anderson, Managing Editor

How do you give investment advice to IRA investors and 401(k) participants? The Pension Protection Act of 2006 laid out a rough framework for giving advice to 401(k) participants, and now the Department of Labor has clarified those rules for 401(k) and IRA advice alike. And whether advisors, mutual fund firms and recordkeepers choose to provide advice via level-fee agents or computer models, it looks like they'll have to act as fiduciaries to do it (see our sister publication, The 401kWire [login required], August 21, 2008 for more on the proposed regs).

The new regs appear to have sparked yet another skirmish between Assistant Secretary of Labor Bradford Campbell (whose Employee Benefits Security Administration regulates employee benefit plans like 401(k)s) and Congressman George Miller (the California Democrat whose legislation on 401(k) fee disclosure stalled earlier this summer after passing the House Education and Labor Committee he chairs). Shortly after Campbell unveiled the new rules, Miller shot back with a statement that they represent "nothing less than a boon for Wall Street and corporate executives," (see The 401kWire, August 21, 2008, for more). 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use