Groom principal and fiduciary practice leader, Kevin Walsh, is quoted in the Bloomberg Law article, “Opening 401(k)s to Private Equity, Crypto Tests New Safe Harbor,” which discusses a new DOL proposed rule “that outlines a legal safe harbor for fiduciaries to offer more alternative investment assets in 401(k)s.”
Commenting on the proposed rule, Walsh “said the DOL is attempting to ‘hit that Goldilocks zone’ with the rule, providing enough certainty for plan fiduciaries to offer more alternative investment products without being so prescriptive they could be easily sued for minor violations.” Regarding anticipated comments, Walsh added, “‘I would expect a lot of comments to say, “This porridge is too hot or it’s too cold” as the DOL tries to make sure this is that right temperature in the middle.’”
To read the article, click here.
