Cleary Discusses Labor Department’s Proposed Rule on 401(k)s and Alternative Assets

On March 30, 2026, the U.S. Department of Labor (the DOL) published its heavily anticipated proposed rule entitled “Fiduciary Duties in Selecting Designated Investment Alternatives” (the Proposed Rule).[1] Over the years, sponsors of private funds and other investment vehicles …

Davis Polk Discusses Bringing Alternative Assets to Retirement Accounts

President Trump’s August 7, 2025 retirement plan Executive Order underscores the administration’s objective to make alternative assets available to defined-contribution plan participants. Below, we identify four steps the Department of Labor and the Securities and Exchange Commission should prioritize to …

Cleary Gottlieb Discusses Executive Order Promoting 401(k) Access to Alternative Assets

On August 7, 2025, the Trump Administration released the heavily anticipated Executive Order, “Democratizing Access to Alternative Assets for 401(k) Investors” (the “Executive Order”), which represents a significant development and a positive step toward facilitating investment by defined …