New DOL Guidance for 401(k) Plan Sponsors and Fiduciaries: Cryptocurrency and Other Digital Asset Investments
Understanding the DOL's warning for plan fiduciaries and what it means
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will provide ERISA counsel with an analysis of new Department of Labor (DOL) guidance on decisions to invest retirement plan assets in cryptocurrency. The panel will discuss ERISA compliance and general rules for plan investments and exposure for fiduciaries as well as the practical challenges posed by limitations on investment decisions. The panel will also put the topic into the broader context of investment decision-making for ERISA plan fiduciaries of all plans, not just 401(k) plans.
- Recent DOL guidance on cryptocurrency investments and comparison to prior guidance on non-traditional investments
- Practical challenges for cryptocurrency plan investments
- Fiduciary risk
- Recordkeeping and custody issues
- Liquidity, diversification and valuation issues
- Impact of evolving government regulation
- Implications of DOL cryptocurrency guidance for retirement plan investments
- 401(k) plans vs. other retirement plans
- ESG, private equity, derivative investments, and other unique investments
- Implications for brokerage windows
The panel will review these and other key issues:
- What are the critical considerations for plan fiduciaries considering offering plan investments in cryptocurrency?
- What are the practical challenges that apply to cryptocurrency plan investments?
- What are the implications of the DOL’s new guidance on cryptocurrency for other types of retirement plan investments?
- What can we learn about managing fiduciary responsibilities from the new DOL guidance?
Paul M. Hamburger
Mr. Hamburger is co-chair of the Employee Benefits & Executive Compensation Group and head of the Washington, DC... | Read More
Mr. Hamburger is co-chair of the Employee Benefits & Executive Compensation Group and head of the Washington, DC office. He is also a leader of the Practice Center’s health and welfare subgroup and a member of Proskauer’s Health Care Reform Task Force.Close
Special Employee Benefits Counsel
Ms. Rigterink is a special employee benefits counsel in the Labor Department and a member of the Employee Benefits... | Read More
Ms. Rigterink is a special employee benefits counsel in the Labor Department and a member of the Employee Benefits & Executive Compensation Group. In the employee benefits area, her practice focuses on an array of tax and benefits issues impacting both multiemployer and single-employer benefit plans and plan fiduciaries. Ms. Rigterink assists clients on matters pertaining to plan administration, design and qualification, as well as regulatory, legislative and legal compliance.Close