Final Rule Permitting Alternative Assets, Including Cryptocurrency, in 401(k) Retirement Plans Submitted to White House for Review

TechFlow, November 06: According to Bloomberg Law, the U.S. Department of Labor's final rule aimed at easing restrictions on including alternative assets such as private equity, real estate, and cryptocurrency in 401(k) retirement savings plans was submitted to the White House Office of Information and Regulatory Affairs (OIRA) for review on November 5, indicating that the rule is nearing completion and formal publication.

The U.S. Department of Labor previously proposed a draft of the rule on March 30, seeking to provide legal safe harbor protection to fiduciaries who include alternative assets in investment menus, provided that six evaluation criteria—investment performance, fees, liquidity, valuation, performance benchmarks, and complexity—are met.

Currently, the rule remains in the final review stage and has not yet officially taken effect.

Source: TechFlow