I ’ve been around the block long enough to know that ERISA doesn’t care about the latest shiny object. It doesn’t care whether CNBC is hyping Bitcoin as the new gold, or whether private equity firms are pounding the table about “democratizing access” for working Americans. The Department of Labor doesn’t weigh in on fads; it weighs in on process. You can love crypto like it’s the next internet revolution, or hate it like it’s a scam cooked up in someone’s basement—it doesn’t matter. The only thing that matters is whether fiduciaries did their homework, documented their process, and acted solely in the interest of participants. That’s why the latest round of guidance out of Washington matters so much for plan providers. The Trump administration’s moves on crypto and private equity don’t mean you can toss a Bitcoin fund or a leveraged buyout strategy into your plan menu tomorrow and call it innovation. What it means is that the official posture has shifted—from a tone of “don’t you dare” to “show us your work.”
Please see full publication below for more information.
