New U.S. Department of Labor guidance issued on June 3 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.
ERISA partner Josh Lichtenstein (New York) was widely cited in media on this issue, with remarks featured in the following pieces:
- WSJ Pro Private Equity, “U.S. Labor Department Allows Private Equity in 401(k) Plans,” (June 3, 2020)
- Bloomberg Law, “Private Equity Options for 401(k)s Bring Litigation Uncertainty,” (June 4, 2020)
- Law360, “Federal Guidance OKs Private Equity Funds In 401(k) Plans,” Law360 (June 3, 2020)
- Ignites, “DOL Opens Door to Greater Private Equity Holdings in 401(k)s,” (June 4, 2020)
- Financial Advisor IQ, “DOL Greenlights Private Equity Funds in 401(k)s,” (June 4, 2020)
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