Julie Stapel and Elizabeth Goldberg on 401(k) plans, Global Relay Intelligence & Practice

Morgan Lewis partners Elizabeth S. Goldberg and Julie K. Stapel joined the Global Relay Intelligence & Practice podcast to discuss the US Department of Labor’s proposed rule addressing fiduciary decision-making for investment options in 401(k) and other participant-directed defined contribution plans.

Elizabeth and Julie explored the proposal’s process-based safe harbor framework, which outlines six factors fiduciaries should consider when selecting designated investment alternatives, including performance, fees, liquidity, valuation, benchmarking, and complexity. They also discussed how the proposed rule could affect the use of alternative assets in retirement plans, the challenges fiduciaries face in evaluating increasingly sophisticated investment options, and the role of investment advisers and other specialists in helping plan fiduciaries satisfy their obligations under the Employee Retirement Income Security Act.

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