Why AARP Backs a New Retirement Plan Advice Rule

Yesterday was the due date for comments on a rule proposed by the U.S. Department of Labor that would protect people with 401(k)s and IRAs from conflicts of interest in the financial services industry. AARP filed our official comments yesterday, one on the new rule and one on the new proposed best interest contract exemption. The rule, proposed in April, requires all retirement plan advisers to provide advice in their clients’ best interest. That is the simple goal underlying the …

New Website to Post Payments to Doctors From Health Industry

By Ankita Rao, Kaiser Health News Blog For the first time, the government will make information about financial relationships between doctors, teaching hospitals and drug manufacturers publicly available. To comply with a provision in the Affordable Care Act, drug and device manufacturers, along with group purchasing organizations, will have to disclose all of their payments and other compensation to physicians and teaching hospitals. Those who don’t comply could be fined. The information will be gathered beginning in August and disclosed by Sept. 30, …