Author: The Wall Street Journal
Americans rolling over their money into an individual retirement account from a 401(k) will have more protections on the advice they get as part of a Labor Department proposal released Tuesday.Under a 1974 federal law that governs retirement accounts, employers have a duty to manage 401(k) plans in the best interest of employees, including to vet the investments and fees.Known as Erisa, the law also imposes this fiduciary standard on advisers to act in a client’s best interest when giving advice in 401(k)s.Copyright ©2023 Dow Jones & Company, Inc.All Rights Reserved.87990cbe856818d5eddac44c7b1cdeb8What to Read NextSponsored OffersTurboTax: Save up to $15 with TurboTax coupon 2023The Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: Get 20% off H&R Block tax software productsTop Resume: Top Resume Coupon: 10% off professional resume writingeBay: eBay coupon: Save 20% on purchasesGroupon: Up to $50 off any order with Groupon promo code
