Proposed Department of Labor Rule Enumerates ERISA Fiduciary Duties for Selecting Alternative Investments in 401(k) Plans
As discussed in our prior alert on President Trump’s Executive Order, Democratizing Access to Alternative Assets for 401(k) Investors, the President directed the Department of Labor (“DOL”) to clarify ERISA fiduciary duties and responsibilities when offering alternative investments in participant-directed defined contribution plans. The DOL has now taken a significant step toward implementing that directive with the release of a long-awaited proposed regulation titled Fiduciary Duties in Selecting Designated Investment…

