Labor Department Announces Final Rules to Help Workers In Abandoned 401(k) Plans

Labor Department Announces Final Rules to Help Workers In Abandoned 401(k) Plans: "The U.S. Department of Labor today announced the publication of final rules and a class exemption that allow financial institutions to take responsibility for abandoned 401(k) plans and distribute the plans' assets to covered workers and their families. The department estimates that 1,650 401(k) plans, covering 33,000 workers, are abandoned by their sponsors each year"