401(k)s Open to Private Markets

The Department of Labor proposed a rule that would permit plan trustees to include private assets — such as private equity, private credit and crypto — in 401(k) retirement plans if trustees follow a spelled‑out diligence process and obtain a safe harbor from legal risk. The move operationalizes an executive order and aims to lower barriers for alternative‑asset managers to tap retirement savings. — Shifting retail retirement capital into less liquid, higher‑fee private markets could concentrate financial power, raise consumer‑protection questions, and change the risk profile of ordinary Americans' retirement accounts.