Most of our clients have qualified retirement plans — including 401(k) plans — and work hard to prudently select and monitor the investment options that are available within those plans for their employees.
On March 30, 2026, the United States Department of Labor issued arguably the most significant new formal guidance for retirement plan fiduciaries in 47 years. The new proposed regulation clarifies, and provides a safe harbor for, a retirement plan fiduciary’s duty of prudence under the Employee Retirement Income Security Act of 1974 (“ERISA”).
Last August, President Trump issued an Executive Order “Democratizing Access to Alternative Assets for 401(k) Investors,” stating in part that “more than 90 million Americans participate in employer-sponsored defined-contribution plans,” (e.g., 401(k) plans) but “do not have the opportunity to participate … in the potential growth and diversification opportunities associated with alternative asset investments.” President Trump declared that “[i]t is the policy of the United States that every American preparing for retirement should have access to funds that include investments in alternative assets,” and directed the Secretary of Labor to “clarify the Department of Labor’s position on alternative assets” (including cryptocurrency).
The new proposed regulation does this and more. The proposed rule sets forth the general standard of what ERISA’s duty of prudence requires of a retirement plan fiduciary when selecting any designated investment alternative, not just alternative assets. The rule introduces a process-based safe harbor for plan fiduciaries to use when selecting designated investment alternatives, which identifies a non-exhaustive list of six factors for a plan fiduciary to objectively, thoroughly, and analytically consider and make determinations about when selecting designated investment alternatives for a plan’s investment menu.
During this one-hour complimentary on-demand webinar, ERISA attorney Brandon Long provides an overview of how the rule proposes to reduce regulatory burdens and litigation risk for plan fiduciaries as they consider their investment menu, including alternative investments such as cryptocurrency.
Register below to receive immediate on-demand viewing access. NOTE: Pre-registration by April 15, 2026 was required to receive HRCI/SHRM credit.
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