The DOL’s Proposed Regulation “Fiduciary Duties in Selecting Designated Investment Alternatives”: A Pathway to “Alts” in 401(k) Plans?

PLI [Practising Law Institute]

On March 31, 2026, the Department of Labor (“DOL”) released its much-anticipated proposed regulation called “Fiduciary Duties in Selecting Designated Investment Alternatives” (the “Proposed Rule”). The DOL issued the Proposed Rule in response to White House Executive Order 14330 (August 7, 2025) entitled “Democratizing Access to Alternative Assets for 401(k) Investors.” The DOL states that the Proposed Rule provides a “safe harbor” that ERISA plan fiduciaries can follow when evaluating designated investment alternatives, including those that include “alternative assets.”

What You Will Learn

Specific issues to be addressed include:

• Overview of ERISA’s fiduciary duties and how we got here (10 minutes)
• Description of the Proposed Rule and identification of key issues and questions (40 minutes)
• Discussion of potential regulatory developments and stakeholder response (10 minutes)

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