The Department of Labor’s hasty decision to rescind its 2021 guidance that warned plan fiduciaries about the risks of private equity and other alternative assets in 401(k) retirement plans is deeply troubling, according to Oscar Valdés Viera, private equity and capital markets policy analyst at Americans for Financial Reform. Valdés Viera says that these safeguards were put into place to protect employees’ 401(k) retirement accounts, per the 1974 Employee Retirement Income Security Act of 1974 (ERISA), and that allowing private equities and crypto markets into retirement accounts threaten these safeguards.

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