Final rule allowing alternative investments, including crypto assets, in 401(k) retirement plans sent to White House for review

BlockBeats news, November 6 - According to Bloomberg Law, a final rule by the U.S. Department of Labor intended to facilitate the inclusion of alternative assets such as private equity, real estate, and cryptocurrencies in retirement plans was sent to the White House Office of Information and Regulatory Affairs (OIRA) for review on Thursday. The submission indicates that the rule is close to completion and public release, but it is still in the review stage.

The Department of Labor published the relevant proposal on March 30. Under the earlier proposal, fiduciaries could obtain legal safe harbor protection when including private assets in 401(k) plan investment options if they meet six factor requirements. These six factors are investment performance, fees, liquidity, valuation, performance benchmarks, and complexity.