As part of a busy day of government announcements related to the retirement world, the Obama Administration has given new endorsement to the use of annuities in defined benefit and defined contribution retirement plans.
The move came the same day as deadlines were delayed and final rulings issued regarding the Department of Labor's so-far often-postponed 401(k) fee disclosure regulations.
The dual measures from the U.S. Treasury, the IRS, and the White House's Council of Economic Advisors, are aimed at expanding transparency in the 401(k) plan marketplace while also broadening the availability of retirement plan options.
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