Evidently, less is not more when it comes to investment advice in 401(k) plans.

The comment period for the proposed, streamlined new rule that the Department of Labor came out with in March (see “DOL Rule Emphasizes Independent 401(k) Advice,” MME 3/8/10), has ended, and the Employee Benefits Security Administration will now examine the 70 comment letters it received and issue a new regulation on advice in 401(k) plans possibly as early as the fall.

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