Gate News message: On March 31, the Trump administration proposed a new rule by the U.S. Department of Labor (DOL) aimed at easing alternative asset access limits for 401(k) retirement savings plans (U.S. company retirement savings plans). The new rule would give companies that offer alternative assets in 401(k) plans more legal protection and reduce the risk of class-action lawsuits, making it easier for alternative assets such as private credit, private equity, crypto assets, and real estate to be included in 401(k) plans. Under the requirements of the new rule, when selecting alternative assets, trustees must fulfill their fiduciary duties by conducting procedures to evaluate performance, fees, liquidity, and valuation, among other factors. Previously, due to concerns about legal and litigation risks, many employers had been cautious about adding such nontraditional assets to 401(k) plans.
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