DOL Warns Retirement Managers About Private Equity's Risks
By Kellie Mejdrich (December 22, 2021, 4:28 PM EST) -- The U.S. Department of Labor warned retirement managers of defined contribution plans like 401(k)s against making investments in private equity if they don't understand the potential pitfalls, citing possible confusion about Trump-era guidance from summer 2020.
The Employee Benefits Security Administration issued a supplemental statement Tuesday looking to clarify an information letter published in June 2020, a move the DOL's employee benefits arm said stemmed from concerns the agency had heard over the past year.
"The Supplemental Statement emphasizes the limited focus of the Information Letter as a response to large plan sponsors who offer both defined benefit plans and participant-directed...
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