On March 30, 2026, the U.S. Department of Labor (“DOL”) issued a much-anticipated proposed regulation (“Proposed Rule”) that would facilitate the inclusion of alternative assets within designated investment alternatives (“DIAs”) offered under participant-directed defined contribution plans such as 401(k) plans (“DC Plans”).

The Proposed Rule implements President Trump’s recent Executive Order (discussed here) directing

As has been discussed and written about extensively, the U.S. Supreme Court lowered the pleading standard for claims alleging violations of ERISA’s prohibited transaction rules. Cunningham v. Cornell University, 604 U.S. 693 (2025). A recent decision addressing a motion to dismiss prohibited transaction claims serves as a good reminder to plan sponsors and