**GAO-11-119**                      Published: Jan 28, 2011. Publicly Released: Feb 28, 2011.                  

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## Highlights

Recent volatility in financial markets highlights the need for prudent investment decisions if 401(k) plans are to provide an adequate source of retirement income. While plan sponsors and participants may receive help in assessing their investment choices, concerns have been raised about the impartiality of the advice provided. GAO was asked to describe circumstances where service providers may have conflicts of interest in providing assistance related to the selection of investment options for (1) plan sponsors and (2) plan participants, and (3) steps the Department of Labor (Labor) has taken to address conflicts of interest related to the selection of investment options.

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Charles Jeszeck
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## Topics

Retirement Security

Brokerage industryConflict of interestsConsultantsFederal regulationsFeesFinancial disclosureFunds managementInformation disclosureInvestment planningMutual fundsPaymentsPensionsRequirements definitionRetirement incomeRevenue sharingSecuritiesStandards