Private equity does not belong in 401(k) plans

It’s always embarrassing to learn stuff about U.S. retirement policy from foreign correspondents, but that happens sometimes. On June 3, 2020, the U.S. Department of Labor (DOL) issued an information letter opening up the opportunity for private-equity investments in 401(k) plans. The letter only addresses private-equity investments in target date, target risk, or balanced funds, and does not specifically authorize making private-equity investments available on a stand-alone basis.


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