Fund Managers Lend Support to Rule Allowing Alternatives in 401(k)s; Critics Warn of Costs and Liquidity Risks
The Department of Labor's proposed rule to permit employer-sponsored retirement plans to include alternative investments such as private credit and cryptocurrencies drew more than 33,000 public comments by the close of the review period. Asset managers and trade groups backed the idea as a way to widen investor access to private markets, while inve…