Biden to announce retirement savings safeguards

The Obama administration on Friday is proposing regulations aimed at protecting workers' retirement savings... The safeguards would protect workers from conflicts of interest on the part of financial advisers who manage their 401(k)s and individual retirement accounts, an administration official said, speaking on condition of anonymity because the proposal had not yet been formally announced.

The proposed regulations would require retirement investment advisers and money managers to either: base investment advice on objective computer models certified by independent experts; or refrain from steering workers into funds they are affiliated with or from which they are receiving a commission...

AP: Biden to announce retirement savings safeguards