Demystifying the Duty of Prudence: DOL Proposes ERISA Safe Harbor for Designated Investment Alternatives in Retirement Plans

On March 31, 2026, the Department of Labor (DOL) published a proposed regulation (the Proposed Regulation) creating a new safe harbor for Employee Retirement Income Security Act of 1974 (ERISA) named fiduciaries such as a retirement plan investment committee to meet its duty of prudence in selecting designated investment alternatives (DIAs, and each, a DIA) in participant-directed retirement plans, such as 401(k) and 403(b) plans. The proposal implements Section 3(c) of Executive Order 14330,... By: Foley & Lardner LLP