Millions of Americans depend on 401(k) and other DC plans as their primary path to financial security, where investment choices play a critical role in outcomes. Because of this, the rules guiding how fiduciaries select plan investments are highly consequential. The DOL’s proposed rule would create a process-based, asset-neutral safe harbor to guide these investment decisions.
Millions of Americans depend on 401(k) and other DC plans as their primary path to financial security, where investment choices play a critical role in outcomes. Because of this, the rules guiding how fiduciaries select plan investments are highly consequential. The DOL’s proposed rule would create a process-based, asset-neutral safe harbor to guide these investment decisions.
ICI submitted a comment letter today in response to the Department of Labor’s proposed rule on fiduciary duties in selecting designated investment alternatives.
Policymakers across Washington are focused on expanding access to private markets—particularly for retirement savers. The August 2025 Executive Order encouraging broader access to private market investments for 401(k) investors reflects a growing recognition that capital markets have evolved and that long-term investors should be able to participate more fully in that evolution.
How Open-End Fund Co-Investment Would Work An adviser managing both a private fund and an open-end fund could allocate a negotiated private market investment across both funds. Here’s how: The adviser...
Why This Matters for Retirement Savers If policymakers are serious about expanding private market access in defined contribution plans, open-end funds must be part of the solution. Open-end mutual...
ICI President and CEO Eric J. Pan released a statement regarding the Department of Labor’s amicus briefs in Pizarro v. The Home Depot and Johnson v. Parker-Hannifin Corporation, two significant cases pending before the US Supreme Court that address Employee Retirement Income Security Act (ERISA) disputes.
President Trump recently issued an executive order (EO) directing the U.S. Secretary of Labor to review fiduciary guidance on private market investments in 401(k) and other defined contribution plans...
President Trump recently issued an executive order (EO) directing the U.S. Secretary of Labor to review fiduciary guidance on private market investments in 401(k) and other defined contribution plans...
Washington, DC, February 12, 2025—Today, Investment Company Institute (ICI) President and CEO Eric J. Pan released the following statement after President Trump nominated Daniel Aronowitz to serve as Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA)...
In April 2024, the Department of Labor (DOL) issued a controversial rule intended to broaden the definition of fiduciary advice to cover broker recommendations on individual retirement accounts (IRAs). The rule was stayed indefinitely by the courts in July 2024. That same month, the...
