Employment Law Updates | New Proposed Legislation
June 26, 2009
House Labor Committee Approves Bill to Expose Hidden 401(k) Fees
401(k) Fair Disclosure for Retirement Security Act
H.R. 1984, 6/25/2009
The House Committee on Education and Labor has approved by a vote of 29 to 17 the 401(k) Fair Disclosure and Pension Security Act (H.R. 2989), which would help workers shop around for the best retirement investment options by providing information on how much in fees is taken from their retirement accounts.
A week earlier, or on June 17, 2009, the House Subcommittee on Health, Employment, Pensions and Labor approved the landmark legislation by a 13 to 8 vote that would expose hidden 401(k) that may be eating into Americans’ retirement security.
The 401(k) Fair Disclosure for Retirement Security Act (H.R.…
To continue reading this article, subscribe now
It's FREE and only takes seconds
View a PDF of the proposed legislation