DOL Rescinds 2021 Supplemental Statement on Alternative Assets In 401(K) Plans

Following President Trump’s recent executive order on alternative assets for 401(k) plans, the Department of Labor has rescinded a 2021 supplemental statement issued by the Biden administration that discouraged fiduciaries from considering alternative assets in 401(k) investment lineups.

Deputy Secretary Keith Sonderling said, “By repealing the Biden administration’s stifling guidance, we look forward to a future where innovative retirement products can deliver increased upside, diversification, and security to the American worker.”

The news release is available at the following link.