Crypto 401(k) rule reaches White House for final review

The U.S. Department of Labor has submitted its final rule on alternative investments in retirement plans for White House review, advancing a framework that could make it easier for employers to offer crypto exposure through 401(k) accounts. Summary OIRA received the final rule on Nov. 5 and lists its review as pending. The March proposal outlines six factors for fiduciaries to consider when selecting investment options. Americans held $10.8 trillion in 401(k) plans at the end of June, according to ICI. Sweep’s $216 billion crypto allocation scenario assumes 2% of that money enters digital assets. The Office of Information and Regulatory Affairs lists the measure as “Fiduciary Duties In Selecting Designated Investment Alternatives,” identifying it as a final rule submitted by the Labor Department’s Employee Benefits Security Administration. The entry carries rule identifier 1210-AC38 and classifies the action as economically significant. Received on Thursday, Nov. 5, the rule remains under review, with no legal deadline listed. Its submission follows the department’s March 30 announcement of a proposal covering how retirement-plan managers evaluate investment options, including fund...