New Obama rule could hit savers hard, analysis finds

A newly finalized Labor Department rule regulating financial planning could cost workers $1,375 a year if they are unable to rollover 401(k) plans into Individual Retirement Accounts, according to a new analysis from a right-of-center think tank.

The American Action Forum published an analysis Tuesday finding that the typical saver who suffered a job loss or changed jobs would incur an additional $1,375 in fees if they were unable to transfer their previous company-sponsored 401(k) into an IRA because of the Labor rule.