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Labor Department's proposal is a 'huge step' for your 401(k), BlackRock's Nefouse says 0%
By Arabella Bennett0%
3/31/2026, 5:56:30 PM
BS Summary: This article contains 15 faulty reasoning types, including Optimism Bias, Unattributed Quote, and Availability Heuristic, with Framing Effect as the most egregious example at 36.2% saturation with 111 hits. Analysis detected 489 faulty-reasoning hits from 307 analyzed words, generating a BS Score of 0% and a BS Rank of 0% (0 of 16,813 articles). This article is better (less manipulative) than 100.00% of the article peer group.
A proposed Department of Labor rule could significantly expand what Americans are able to hold inside their retirement accounts, potentially opening the door to assets like cryptocurrency, real estate and private markets.
BlackRock Global Head of Retirement Solutions Nick Nefouse described the rule as "a huge step forward for the 401(k) market" while discussing what the change could mean for everyday investors during his appearance on "Varney & Co."
Tuesday.
"The proposed regulation explains the steps that managers of 401(k) plans should take when considering alternative assets as a component in their investment lineups and establishes a set of process-based safe harbors for plan fiduciaries to use when selecting designated investment alternatives," the Labor Department said in a press release on March 30.
Rather than endorsing specific investments, Nefouse suggested that the proposal is focused on creating a structured process for plan providers to follow when evaluating alternative assets.
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"What the rule is trying to do… is establish a process, not necessarily say which asset classes are good or bad," Nefouse said.
The shift could narrow a long-standing gap between retirement systems.
While large institutional-style plans already have access to a wider range of investments, many workers in traditional 401(k) plans do not.
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"Think of regular people.
About 25% of the population are in defined benefit plans.
About 80% are in defined contribution plans," Nefouse said.
"What we're trying to do is level the playing fields, and so many Americans are relying on 401(k) plans," he added.
The change could broaden access to investment options that have traditionally been limited to institutional retirement plans.
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