In addition to shedding crocodile tears over the potential harm to middle-income savers if brokers have to start acting in their customers' best interests, financial services firms and their lobbyists have increasingly voiced their outrage that the Department of Labor believes it has a role to play in regulating retirement advice.
Gov. Bruce Rauner on Monday declared that Illinois state employees who do not wish to belong to a union can no longer have "fair share" fees deducted from their paychecks. In doing so, he likely set in motion a legal proceeding that will be decided by the U.S. Supreme Court and could have a major effect in labor law across the country.
January is a great time to outline your financial goals for the year, including taking a look at your retirement savings plan. If you didn't save as much as you wanted to last year or you have yet to start contributing to a retirement account, there are some new rules for 2015 that you'll want to pay attention to.
You've heard a lot of information about retirement planning basics: contribute regularly to tax-advantaged accounts like your 401(k) or IRA, choose the right mix of assets for your age and risk tolerance, and rebalance regularly. But you still can't help but wonder if you're missing something crucial.