Regulation
Labor Dept. Warns Fiduciaries About Offering Crypto in DC Plans
The Employee Benefits Security Administration said 401(k) fiduciaries should use ‘extreme care’ before adding crypto options to a plan.
The lobbying group also says a surge in litigation could have ‘significant negative consequences for plan participants.’
The plaintiffs claim switching from State Street has cost participants $100 million in losses.
Appellate court rules ERISA doesn’t pre-empt the California law that created the state-managed IRA program.