Season 6 Episode 5 (click here)
The comment period has just closed on the Labor Department’s Investment Selection Rule – Nevin (Adams) and Fred (Reish) look at what’s been said and what’s ahead.
Last August President Trump signed an executive order directing the Secretary of Labor to, among other things, “reexamine the Department of Labor’s guidance on a fiduciary’s duties regarding alternative asset investments in ERISA-governed 401(k) and other defined-contribution plans” – a stance widely seen as encouraging the consideration of alternative assets in defined contribution plans, including 401(k)s and 403(b)s.
Then on March 30, the Labor Department issued a proposed regulation in response to that directive, titled “Fiduciary Duties In Selecting Designated Investment Alternatives.”
However, while it acknowledged that while the executive order “focused on fiduciary responsibilities for offering an asset allocation fund that includes investments in alternative assets, the proposed regulation would apply to the selection of any type of investment as a designated investment alternative, including investments in so-called “alternative assets.”
That said, the comment period closed with more than 47,000 comments!
In this episode, Nevin and Fred consider the…alternatives… and the future of the proposal.
Episode Resources:
Regulations.gov (the comments)
Season 6 Episode 4: The Investment Selection Proposal | Nevin & Fred % %
Talking Points: Retirement Income, Defaults and Fiduciary Duty
Special Edition: Fiduciary Duties In Selecting Designated Investment Alternatives Proposed Rule https://endeavor-retirement.activehosted.com/index.php?action=social&chash=f770b62bc8f42a0b66751fe636fc6eb0.467&s=f1b8e69fc34995b9d807df36b7a3c6f3
AGs, Congressional Democrats Say DOL Proposal Weakens Prudence Standard
EBSA’s Aronowitz Outlines Fiduciary Framework for ‘Investment Selection Rule’
How Many Times Does the DOL Proposed Rule Mention ‘Litigation?’
Fiduciary Duties in Selecting Designated Investment Alternatives (the “Investment Selection Rule”)
Breaking News: Trump Signs EO to Advance Private Market Investments in 401(k)s