Labor Department rescinds 2021 statement on alternative assets in 401(k)s
Main Idea
The U.S. Department of Labor rescinded a Biden-era statement that discouraged fiduciaries from including alternative assets in 401(k) retirement plans.
Key Points
1. The U.S. Department of Labor revoked a supplemental statement from the Biden administration.
2. The statement had discouraged fiduciaries from considering alternative assets for 401(k) plans.
3. The rescission was announced on June 3, 2020.
Description
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