U.S. Labor Department finalizes rule on investment advice for 401(k) plans and IRAs

by Sabrina I. Pacifici on January 19, 2009

News release: “The U.S. Department of Labor announced publication of a final rule to make investment advice more accessible for millions of Americans in 401(k) type plans and individual retirement accounts (IRAs). The final rule will be published in the Jan. 21, 2009, edition of the Federal Register. The rule includes a regulation that implements the new statutory exemption for investment advice added to the Employee Retirement Income Security Act (ERISA) by the Pension Protection Act (PPA) and a related class exemption.”

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