The study also suggested that workers should be required to join 401(k)s and other retirement programs.
Backed by members of both parties, the measure aims to allow greater range of investments in defined contribution plans.
Class action lawsuit claims firm loaded its retirement plan with high-fee, underperforming proprietary funds.
Despite rising inflation and falling markets, savings remain high among 401(k), 403(b) and IRA participants.
Following a Labor Department probe, Bicallis LLC must pay more than $150,000 to its retirement plan and has been replaced as fiduciary.
