401(k) Guidance Systems

Don Trone gave his thoughts to MarketWatch on 401(k) advice legislation.

He says the advice bill can only help participants, assuming it addresses the competency of advisers.

Trone, a member of the U.S. Labor Department's ERISA Advisory Council, sees 401(k) participation and contribution rates rising, and assets being more wisely allocated, with some legislative action. Ultimately, he says, the guidance from investment advisers would be better than what people get today -- which is no advice at all.

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