New DOL Rule and Safe Harbor for 401(k) Investment Alternatives

BARBRI

This CLE course will provide ERISA counsel an in-depth analysis of the impact of the recently issued Executive Order for 401(k) plan investments in private equity, cryptocurrency, and other alternative assets. The panel will discuss the current regulatory framework, fiduciary issues, and transaction risks associated with ERISA plan investments in alternative assets. The panel will also discuss ERISA compliance and rules for plan investments, exposure to fiduciaries, transaction and security risks, and best practices for ERISA counsel, fund managers, and advisers.

Description

The recent Executive Order for 401(k) plan investments in alternative assets may cause heightened compliance and valuation issues for corporate plans. In light of the Executive Order, plans that invest in alternatives must focus on properly vetting asset managers more than ever—or risk claims of poor governance and excessive risk-taking.

On Aug. 7, 2025, President Trump issued an Executive Order directing regulators to expand access to alternative assets in 401(k) plans. It provides a broader definition of "alternative assets," which includes private equity and digital assets. Asset managers are urged to pay close attention to the needs of ERISA fiduciaries for both business development and risk management purposes in light of the Executive Order.

Lawsuits and enforcement actions against asset managers are likely to increase with the expansion of available assets. Counsel must fully grasp and guide hedge fund and private equity fund manager clients on full compliance with the duties of ERISA fiduciaries to plan participants.

Listen as our ERISA-experienced panel of benefits counsel and governance professionals provides an in-depth analysis of the Executive Order and the legal and investment landmines that can destroy portfolio values and expose institutional investors and fund managers to liability risks. The panel will review new ERISA considerations for 2025 and beyond and outline best practices for implementing effective due diligence procedures.

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