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401(k) reform: A modest proposal After the midterm elections, both sides have said they want to increase the cooperation within Congress, and in that spirit lawmakers may consider changes to improve employer-sponsored defined-contribution investment plans, writes John Rekenthaler, Morningstar's vice president of research. The relatively nonpartisan topic of retirement income could help both sides with voters, he reasons. He proposes changing 401(k) plans by scrapping the fiduciary burden on employers and expanding the plans to include all workers. The proposal would lead to reduced costs for companies and more workers with retirement coverage, Rekenthaler says. -- Morningstar
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