Federal Guidance OKs Private Equity Funds In 401(k) Plans

By Emily Brill (June 3, 2020, 9:35 PM EDT) -- New U.S. Department of Labor guidance issued Wednesday allows 401(k) plans to join pension plans in investing in private equity funds, establishing a new line of revenue for a $6 trillion industry already heavily funded by workers' retirement savings.

The Trump administration cast the development as good news for American workers, saying it opens the door for 401(k) plan participants to access a "high-return" investment option frequently used by pension plans.

The DOL issued the guidance after the private equity firms Pantheon Ventures and Partners Group Inc. asked the agency to clarify whether target-date funds — a popular savings option for...

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