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White House Pushes For Tougher Rules On Retirement Funds

Published February 23, 2015 at 1:33 PM EST

Today, the Obama administration is expected to show its support of a Department of Labor proposal about Americans’ retirement savings.

The measure would require brokers to act in their client’s best interest, meaning that it would be harder for them to push people towards high-fee products and funds, but industry officials say it’s unnecessary and could be bad for investors.

Jill Schlesinger of CBS News joins Here & Now’s Robin Young to discuss the proposal and its implications.

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