A bill that would allow employers to provide 401(k) investors with advice, either through mutual fund companies or other means, was approved a House committee today.

The House Education & the Workforce Committee approved the bill, known as the Retirement Security and Advice Act, by a vote of 29-17. If signed into law, it would clarify the fiduciary responsibilities of plan providers and financial planners and allow fund companies to offer advice to investors provided any conflicts of interest are disclosed.

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