DOL Urged to Extend 401(k) Private Asset Proposal Comment Window

Former Department of Labor officials and advocacy groups are asking the agency to extend the public comment period on a major proposal that could make it easier to offer private equity and other alternative assets in 401(k) plans.

Ten organizations, including the AFL-CIO, and eight individuals signed onto a letter sent Tuesday to Daniel Aronowitz, head of the Employee Benefits Security Administration. The signatories requested the agency extend the public comment period, set to end on June 1, by at least 30 days.

In the letter, which was shared with Bloomberg Law, the signatories cite the significance and complexity of ...