Department of Labor Changes Its Tone for Private Equity Under 401(k) Plans

Last week, the U.S. Department of Labor (the "DOL") on December 21, 2021 issued a supplement (the “2021 Supplement”) to a June 2020 Information Letter (the "2020 Information Letter") that had addressed the possible use of private equity ("PE") investments in investment options offered under participant-directed individual-account retirement plans ("Plans"), such as "401(k)" plans, that are subject to the Employee Retirement Income Security Act of 1974 ("ERISA"). READ MORE