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Private Equity in 401(k) Target Date Funds Is a Prohibited Transaction
The Commonsense 401(k) Project Link to more items from this source
[Opinion]
Nov. 17, 2025

"This report expands and fully develops the legal, economic, regulatory, and fiduciary basis demonstrating that any allocation to Private Equity (PE) or Private Credit (PC) within a 401(k) Target Date Fund (TDF) -- including allocations as small as 1-10% -- renders the entire TDF a prohibited transaction under ERISA Sections 406(a) and 406(b)."  MORE >>

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