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The article reports on the regulations issued by the U.S. Labor Department on April 6, 2016 requiring financial advisers and brokers of individual retirement and 401 (k) accounts to act in the best interests of their clients. Topics include the expected shift of retirement funds to lower-cost investments, the assumption of consumers that firms and individuals investing their money are obliged to provide the very best advice and the conflict-of-interest rule for tax-advantage retirement funds.

The article reports that New York is close to joining a growing list of states that are creating a retirement plan option for private sector employees who do not have access to 401(k)-like programs at work, and mentions that program was included in budget deal to be signed by the Governor.

The article reports that the U.S. Labor Department plans to support the fiduciary rule that would require financial advisers to prioritize interests of their customer, after a review prompted a delay in its implementation in June 9, 2017.

The article focuses on a federal budget bill signed by the House and Senate, which states that retirees will not be eligible to use certain claiming strategies to increase the amount they had collected from Social Security.

Fannie Mae's workers had $116 million in the employee stock ownership plan at the end of 2006. Today, it's more like $17.5 million. Ouch. The employees of Fannie Mae, and those of its counterpart Freddie Mac, are reeling from financial blows themselves as the mortgage finance companies lurch toward what could be a government bailout. Both firms ladled out hefty servings of stocks and options to reward and compensate employees -- making them popular employers for years. [ABSTRACT FROM PUBLISHER]