When Congres passed the Employee Re...

When Congres passed the Employee Retirement Income Security Act in 1974 defined-benefit plans dominated and 401(k) plans didn't unruffled exist. Employers took on investment risk, made the fiduciary decisions and handled the paperwork for plan participants.

Nearly three decades later, 401(k) plans dominate the landscape. Participating employee decide to what extent much to invest and what investment options to select But under ERISA, plan providers can't give personalized advice, and many plan members are afraid to make their confess investment decisions.

"We're asking participants to take forward sophisticated responsibilities, but prohibited transaction controls prevent us from giving