News & Analysis as of

Investment Opportunities Department of Labor (DOL) 401k

Troutman Pepper Locke

ESG Investing in 401(k) Plans – More Rule Changes on the Way

Troutman Pepper Locke on

In our recent client alert, “Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged “ESG Investing” Without Any ESG Funds,” we reported that a Texas district court recently upheld Biden-administration...more

Jones Day

Congressional Republicans and State Attorneys General Challenge Biden Administration's ESG 401(k) Rule

Jones Day on

Republicans at the state and federal levels are challenging a Biden administration rule (the "Rule") intended to walk back Trump-era regulations restricting the ability of retirement fund managers to consider climate change...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Biden vetoes ESG proposal overturn

If your Department of Labor (DOL) proposes a rule, as President, you’re not likely to throw them under the bus and overrule them. In a move that surprised no one, President Joe Biden used his first veto to preserve a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Senator wants crypto option, good luck

As Bitcoin starts inching back up, I’m in the black again and expect more clamor for crypto options in 401(k) plans. Senator Tommy Tuberville, R-Alabama, reintroduced legislation to create a law, the Financial Freedom Act...more

Kerr Russell

A Fair Warning: 401(k) Plan Sponsors May be Hard-Pressed to Defend Addition of Cryptocurrency Investment Option

Kerr Russell on

The U.S. Department of Labor (DOL) published guidance earlier this year warning fiduciaries who administer retirement plans to “exercise extreme care” when considering whether to include cryptocurrency as a plan investment...more

Lathrop GPM

Cryptocurrency as a 401(K) Plan Investment Option

Lathrop GPM on

Fidelity Investments recently announced it is making a Bitcoin account available as an investment option for 401(k) plans, fueling a debate about cryptocurrencies and fiduciary responsibilities under ERISA. In what might...more

Laner Muchin, Ltd.

DOL Warns Against Plan Investments in Cryptocurrency

Laner Muchin, Ltd. on

Given the current market volatility, the U.S. Department of Labor’s (DOL) concerns related to the addition of cryptocurrencies in qualified retirement plans seems prescient. In Compliance Assistance Release No. 2022-01, the...more

Parker Poe Adams & Bernstein LLP

DOL Warns Employers About Including Cryptocurrency in 401(k) Plan Investment Options

Late last month, Fidelity Investments created a minor firestorm when it announced that it would allow retirement plan sponsors to offer bitcoin as an investment option for participants. In reaction to this move, the...more

Jackson Lewis P.C.

Crypto, SDBAs, and Your 401(k) Plan: What Now?

Jackson Lewis P.C. on

Just over a month ago, we wrote about the Department of Labor’s guidance on cryptocurrency as a 401(k) investment option, and the landscape has already shifted multiple times....more

Goodwin

Cryptocurrencies As Investment Options In 401(k) Plans

Goodwin on

On March 10, 2022, the U.S. Department of Labor (“DOL”) issued a Compliance Assistance Release (the “Release”) addressing its views on the availability of cryptocurrencies on 401(k) investment platforms. This guidance comes...more

Cadwalader, Wickersham & Taft LLP

DOL Warns Sponsors against Permitting Cryptocurrency-Related Investments on 401(k) Plan Investment Menus

The U.S. Department of Labor (“DOL”) last month issued Compliance Assistance Release No. 2022-1 - 401(k) Plan Investments in “Cryptocurrencies” (the “Release”) in which it strongly cautions ERISA plan fiduciaries to use...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - March 2022

In the March Monthly Minute, we review IRS proposed regulations implementing the SECURE Act, DOL guidance on cryptocurrency investments, and the extended National Emergency “Outbreak Period” guidance. Crypto-Curious vs....more

Nelson Mullins Riley & Scarborough LLP

Fiduciaries versus FOMO: Department of Labor Releases 401(k) Cryptocurrency Guidance

Regulators may be nervous about workers staking their retirements on crypto. The United States Department Labor’s Employee Benefits Security Administration (the “DOL”) recently issued Compliance Assistance Release No. 2022-01...more

Cozen O'Connor

Department of Labor Issues Strong Caution on Use of Cryptocurrencies in 401(k) Plans

Cozen O'Connor on

The U.S. Department of Labor (the DOL) has issued a compliance release that provides strong caution against ERISA fiduciaries of 401(k) and 403(b) plans including cryptocurrencies as plan investment options. In an unusual...more

Littler

DOL Issues Guidance on Use of Cryptocurrency in 401(k) Plans

Littler on

On March 10, 2022, the Department of Labor issued guidance on the use of cryptocurrency in plans governed by ERISA.  The announcement applies to cryptocurrencies as well as digital assets, which include “tokens,” “coins,”...more

Proskauer - Blockchain and the Law

Cryptocurrency in 401(k) Plans? Might be More Like “Crypto-nite,” Says the DOL in Its Latest Release

Kryptonite is a fictional substance that causes the mighty Superman to lose all his strength. According to a recent release from the U.S. Department of Labor Employee Benefits Security Administration (“DOL”), cryptocurrency...more

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