Biden Proposes New Rules to Protect Retirement Funds–03/01/2010
New rules were unveiled Friday that Vice-President Joe Biden hopes will protect the retirement savings of U.S. workers. One of the rules would prevent retirement advisers from steering workers into funds that they have a vested interest in unless they are working off of a certified unbiased computer model. The goal is to limit conflicts of interest that may undermine reliability of investment advice. A second rule is aimed directly at protecting retirement plans reached via collective bargaining agreements.