DOL's New 'Safe Harbor' For Alts In 401(k)s Raises Stakes For Fiduciaries

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DOL's New 'Safe Harbor' For Alts In 401(k)s Raises Stakes For Fiduciaries

April 02, 2026

United States
United States
United States
Financial Advisor Magazine

Partner David Kaleda is quoted in Financial Advisor Magazine discussing the Department of Labor’s proposed safe harbor for alternative investments in 401(k) plans and its focus on fiduciary process over product selection.

“ERISA requires procedural prudence. What this does is outline what a prudent process looks like.”

The proposal lays out a framework for evaluating alternatives, covering performance, fees, liquidity, valuation, benchmarking, and complexity, while remaining investment neutral.

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David Kaleda

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Washington, DC, United States

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