Few people may read it or totally understand it, but a 30-page government rule brimming with gobbledygook and legalese is sure to revolutionize the way Americans save and invest for retirement.

more stories like thisThanks to the rule, millions of workers who don't specifically "opt out" will see a portion of their salaries automatically directed to diversified portfolios of stocks and bonds in their employer-sponsored tax-deferred 401(k) retirement plans.

This final rule by the US Department of Labor, effective Dec. 24, lists requirements for "default investment alternatives under participant directed individual account plans."

 

Submitted: Nov 27, 2007    Views: 240    Comments: 0    Likes: 2   


View Article: http://www.boston.com/business/personalfinance/articles/2007/11/27/...



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