Back to News
Federal RegisterFederal
Fiduciary Duties in Selecting Designated Investment Alternatives
Plain English Summary
A new proposed regulation is being introduced that affects fiduciaries responsible for choosing investment options in retirement plans, specifically those that allow participants to direct their own accounts. This regulation aims to clarify the responsibilities of these fiduciaries to ensure they make wise investment choices, including options that involve alternative assets. Insurance agents should stay informed about these changes, as they may impact how retirement plans are structured and the options available to clients.
+View original text
This document contains a proposed regulation that clarifies, and provides a safe harbor for, a fiduciary's duty of prudence under the Employee Retirement Income Security Act of 1974 (ERISA) in connection with selecting designated investment alternatives for a participant-directed individual account plan, including asset allocation funds that include alternative assets. This proposal implements section 3(c) of President Trump's Executive Order 14330, Democratizing Access to Alternative Assets for 401(k) Investors.