A proposed regulation by the U.S. Department of Labor to change investment options in the $10 trillion 401(k) market has cleared the White House review stage, moving closer to announcement. The Office of Information and Regulatory Affairs completed its review on March 24, paving the way for official issuance.
If approved, the regulation will modify ERISA fiduciary guidance to allow the inclusion of cryptocurrencies and private equity in investment portfolios. The proposal stems from directives issued by Donald Trump last year. The regulation is classified as having a major economic impact, but no completion deadline has been set. This development comes as retirement savings reach record levels, with the average 401(k) balance rising sharply.
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