DOL Proposes 401(k) Crypto and Private Equity Investment Safe Harbor Rule
Summary
Epstein Becker & Green summarizes three employment law developments. The DOL proposed a rule establishing a process-based safe harbor for ERISA fiduciaries, potentially enabling 401(k) plan investments in cryptocurrency, private equity, and real estate. The NLRB asked a federal court to declare unconstitutional statutory provisions limiting presidential removal of Board members and administrative law judges. Employers are advised to prepare for increased military leave requests under the Uniformed Services Employment and Reemployment Rights Act.
What changed
The DOL proposed a rule creating a process-based safe harbor for fiduciaries under ERISA, which could open 401(k) plans to alternative investments including cryptocurrency, private equity, and real estate. The NLRB separately requested a federal court declare unconstitutional the statutory removal protections for Board members and administrative law judges—marking the Board's first such challenge to these provisions.
Employers offering 401(k) plans should monitor the DOL proposal as it could expand permissible investment options. Plan fiduciaries may gain clearer guidance on offering alternative assets. Employers with employees in military service should review USERRA obligations amid ongoing global conflicts. The NLRB removal challenge is primarily of constitutional interest rather than immediate employment compliance concern.
What to do next
- Monitor DOL developments on 401(k) alternative asset safe harbor
- Review military leave obligations under USERRA
Archived snapshot
Apr 15, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
April 15, 2026
401(k) Alternative Assets, NLRB Removal Protections, and Military Leave Requests - Employment Law This Week®
Epstein Becker & Green + Follow Contact LinkedIn Facebook X Send Embed What employers should know about key developments this week:
• DOL Proposes Opening 401(k) Investments: The U.S. Department of Labor (DOL) proposed a rule establishing a process-based safe harbor for fiduciaries under the Employee Retirement Income Security Act, opening the door to alternative assets—including cryptocurrency, private equity, and real estate—in 401(k) plans. See more +
What employers should know about key developments this week:
• DOL Proposes Opening 401(k) Investments: The U.S. Department of Labor (DOL) proposed a rule establishing a process-based safe harbor for fiduciaries under the Employee Retirement Income Security Act, opening the door to alternative assets—including cryptocurrency, private equity, and real estate—in 401(k) plans.
• NLRB Wants Its Removal Protections Stripped: The National Labor Relations Board (“NLRB” or “Board”) asked a federal court to declare unconstitutional the statutory provisions limiting the U.S. president's ability to remove members of the NLRB and administrative law judges—marking the first time the Board itself has taken this position.
• Compliance with Military Leave Requests: Amid ongoing global conflicts, employers should prepare for an influx of military leave requests and review their obligations under the federal Uniformed Services Employment and Reemployment Rights Act, as well as any applicable state law.
Employment Law This Week® gives a rundown of the top developments in employment and labor law and workforce management in a matter of minutes every #WorkforceWednesday.
For the podcast edition, related reading, and more news - and to sign up for email notifications - visit https://www.ebglaw.com/eltw430 See less -
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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