Topic: 401(k) Plans

DOL Information Letter Allows Private Equity Investments in Defined Contribution Plans

On June 3, 2020, through the issuance of an information letter (the “Letter”), the Department of ‎Labor (the “DoL”) effectively expanded the realm of investment alternatives for 401(k) plans ‎and other defined contribution plans to include private equity. The guidance is clearly a boon to ‎the private equity industry, which can now count 401(k) plan participants as a significant new ‎class of investors.‎

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Legislation Proposed to Allow Employers to Make Matching Contributions on Student Loan Repayments

Two bills have been introduced in the Senate that would allow employers to make matching ‎contributions under 401(k), 403(b), governmental 457(b) and SIMPLE plans as if the ‎participant’s student loan payments were salary reduction contributions. On May 13, Senator ‎Ron Wyden (R-OR) reintroduced the Retirement Parity for Student Loans Act (Student Loan ‎Act) and Senators Ben Cardin (D-MD) and Rob Portman (R-OH) reintroduced the Retirement ‎Security & Savings Act.

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