Benefits attorneys and retirement plan sponsors are rushing to unpack a new proposal from the Department of Labor that outlines a legal safe harbor for fiduciaries to offer more alternative investment assets in 401(k)s.
The 164-page proposed rule would provide legal cover for fiduciaries who thoroughly consider six factors before adding private equity, cryptocurrency, and other non-traditional assets to plan menus.
Employers and benefits attorneys see this as the latest effort from President Donald Trump’s DOL to curb what it has decried as frivolous and excessive litigation, while making it easier for more Wall Street firms to tap the $14 ...
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