Chapter

Impact of the Pension Protection Act on Financial Advice: What Works and What Remains to Be Done?

Lynn Pettus and R. Hall Kesmodel

in Reorienting Retirement Risk Management

Published in print August 2010 | ISBN: 9780199592609
Published online September 2010 | e-ISBN: 9780191594618 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199592609.003.0005
Impact of the Pension Protection Act on Financial Advice: What Works and What Remains to Be Done?

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In light of workers' lack of financial literacy and the complexity of managing retirement income, retirement advice and financial planning services must be effectively delivered to help more participants achieve financial security. A key challenge is how to deliver such advice without compromising plan sponsors' fiduciary responsibilities, and without relying on participants to indirectly fund the cost of advice programs through their purchase of ancillary financial products. This chapter addresses these topics.

Keywords: retirement advice; planning; financial security; fiduciary responsibilities; Pension Protection Act

Chapter.  6949 words. 

Subjects: Pensions

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