DOL Proposes Rule on Fiduciary Duties in Selecting 401(k) Plan Investments

The U.S. Department of Labor (DOL) has issued a proposed rule that would create a process-based safe harbor for ERISA fiduciaries selecting investment options in 401(k), 403(b), and other defined contribution plans. The proposed rule outlines a six-factor analytical framework and confirms an asset-neutral approach, allowing plan fiduciaries to consider a broader range of investments, including alternative investments, so long as they follow a prudent, well-documented process.... By: Ballard Spahr LLP