While companies that serve the 401(k) market say call volumes from investors spiked early Wednesday, they saw relatively few of those investors make changes to their portfolios. And that’s the best course, financial advisers and plan administrators say.
A federal judge rejected a request from an insurance-industry group to block a new rule on retirement advice, handing an early victory to the Obama administration in its defense of the landmark regulation against a series of legal challenges.
Advocates and opponents are gearing up for a life or death battle over a problematic Affordable Care Act in 2017, and the idea of a government option in health insurance is gaining some traction among Democrats.
Clients of Bank of America’s Merrill Lynch brokerage can no longer buy mutual funds in retirement accounts that charge commissions, another sign that the effects of new retirement regulations are already being felt months ahead of implementation.