DOL’s Benefits Head Sees Private Asset Push Holding Up in Court

The head of the Department of Labor’s benefits regulator voiced confidence Tuesday that the agency’s proposal to make it easier to include more alternative assets like private equity in 401(k)s would stand up in court.

Speaking at a Mayer Brown law firm-hosted event, Daniel Aronowitz, who leads the DOL’s Employee Benefits Security Administration said he while doesn’t have a “magic wand” to predict precisely how courts will respond to the proposal, it was written to stand up to Administrative Procedure Act scrutiny following the Supreme Court’s Loper Bright ruling. That 2024 decision eliminated the Chevron doctrine requirement that ...