Changes Coming for the 401(k) Plan - WSJ.com: "Policy makers and some industry representatives say major changes to retirement investing and 401(k) plans are becoming increasingly likely under the Democratic Party's control of Congress.
Proposed legislation gaining momentum in the House and Senate would require the industry to break out 401(k) fees on investors' statements, and would essentially repeal Bush administration regulations allowing mutual-fund companies to offer personalized advice to 401(k) participants in the plans the companies manage.
In another proposed change, President Obama's 2010 budget calls for the future establishment of a program in which all workers would be automatically enrolled in employers' retirement plans. Now, in most cases, they must opt in to participate. Also under the administration's plan, employers that don't offer a retirement plan would be required to enroll their employees in a direct-deposit individual retirement account. Employees would be able to opt out of either approach."
Wednesday, May 6, 2009
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