Originally published September 13, 2021
In the Thomson Reuters Practical Law article, “Expert Q&A on Cryptocurrency and Retirement Plans,” Groom principals and co-chairs of the firm’s Plan Sponsor Practice Allison Itami and David Levine addressed trending questions regarding legal and practical issues surrounding cryptocurrency that retirement plan sponsors should be familiar with when considering cryptocurrency as a potential investment option.
- What is cryptocurrency and why might retirement plans be interested in offering it as an investment?
- Is cryptocurrency legally permitted as a 401(k) plan investment option under ERISA and the Code?
- Is it becoming increasingly common for 401(k) plans to permit investment in cryptocurrency?
- What are the risks for plan fiduciaries that permit cryptocurrency as a 401(k) plan investment option?
- If a plan sponsor wants to offer cryptocurrency as an investment option, what steps should it take?
- Are there any additional considerations for plan sponsors that offer cryptocurrency as a 401(k) plan investment option?
To read the article, click here.