Legal

The Massachusetts Securities Division is calling on 401(k) plan administrators to report how many companies have shifted to a lump-sum matching contribution once a year, a change that can undermine worker savings.

U.S. Bankruptcy Judge Steven Rhodes today scheduled a June 16 starting date for a trial where Detroit officials will try to convince him that the plan is feasible and the best way to revitalize the city.

Detroits plan to end its $18 billion bankruptcy assumes bondholders offered 20 cents on the dollar will eventually swallow a deal that guarantees police and firefighters collect 90 percent of their pensions.

Sen. James Rosapepe, Sen. Richard Madaleno and Del. Tom Hucker will announce the legislation they are sponsoring at a press conference on Thursday, Feb. 27.

The initiative will focus on advisors who have been registered with the SEC for three or more years. The office previously announced that examining these advisors is a priority in 2014.

The Internal Revenue Service has issued guidance for employers whose 401(k) plans offer Roth accounts for the rules governing rollovers by participants younger than retirement age.