The U.S. Department of Labor has proposed a new measure that would make it easier for 401(k) plans to include alternative assets such as cryptocurrency, real estate, and private market investments.
“This proposed rule will show how plans can consider products that better reflect the investment landscape as it exists today,” Labor Secretary Lori Chavez-DeRemer said in a statement on Monday.
Federal law requires those overseeing 401(k) plans to act in the best interests of participants, a broad standard that has exposed employers to lawsuits over investment options deemed too costly or otherwise inappropriate. Workers have brought such claims against some of the nation’s largest employers, such as Boeing and Lockheed Martin, challenging allegedly high-fee offerings….