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401(k) Industry Howls as DOL Lets State Governments Become DC Providers with Advantageous Exemptions
RIABiz Link to more items from this source
Dec. 11, 2015
"The good news is that states will bring more competition to a defined contribution industry that badly needs it. But if that competition exists on a less-than-level playing field, it starts to feel like a government subsidy ... The lack of outcry about a proposed system ... speaks loudly to how baffling all this is to observers.... Advisors and their watchdogs are not yet of one mind about the Obamacare-evoking government 401(k) providers: They see a way to bring unadvised assets out from under the mattresses but are also leery that a monster is being created."

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