Good News for DC Plan Sponsors, But Small Step Forward in Context of History

By Norton Reamer and Jesse Downing

In May, the Department of Labor issued a rule requiring financial professionals managing certain retirement accounts to act as fiduciaries for their clients, ensuring that retirement savings are invested in their clients’ best interests. In their article for Pensions & Investments, the authors of Investment: A History offer a unique perspective on this development based on their study of the history of funded retirement, a relatively recent invention in the grand scheme of financial progress. To view the article, click here.