Fiscal Hawks Should Love Cheaper Retirement Plans

Changes in rules governing retirement-plan managers and advisers will lower their fees, increase retirees' savings and help limit tax increases.

Lower taxes for the young, better retirements for the elderly.

Photographer: Ute Grabowsky/Photothek via Getty Images

I wanted to spend a bit of time on the Labor Department’s proposal to place a fiduciary obligation on those who manage or provide investment advice on retirement plans. These include individual retirement accounts and 401(k)s (including 403(b)s). The new rules require the broker or adviser to “operate in the best interest of the client.”

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