Timothy Geithner

Executive actions increase transparency, broaden options for 401(k) savers WASHINGTON, Feb. 2, 2012 /PRNewswire-USNewswire/ -- Following President Obama's State of the Union address, in which he proposed a blueprint for an American economy built to last, the U.S. Departments of Labor and the Treasury today announced two executive actions designed to help enhance security for millions of Americans saving for retirement. The measures will expand transparency in the 401(k) plan marketplace and broaden the availability of retirement plan options so that Americans can maximize their ability to save responsibly and securely. The U.S. Department of Labor's Employee Benefits Security Administration issued a final rule that will provide employers sponsoring pension and 401(k) plans with information about the administrative and investment costs associated with providing such plans to their workers. The department also announced a 3-month extension in the effective date of this rule, meaning service providers must be in ...