Financial advisers would have to adhere to more stringent standards when giving advice on 401(k) plans, IRAs and other retirement accounts under a rule proposed Tuesday by the U.S. Department of Labor.
Memo to 401(k) savings plan service providers: You're ignoring the intent of Labor Department disclosure rules when you bury the expenses and fees for those plans in a mountain of paperwork, using language only legal experts can decipher.
Companies did more hiring than firing in October and older workers caught some of that action. A higher-than-expected 171,000 jobs were added to the economy last month as jobless levels for people 55 and older tapered off, according to the Bureau of Labor Statistics.
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