Wall Street sees a $10 trillion opening as Washington rewrites 401(k) rules

The federal government is preparing to redraw the boundaries of America's retirement accounts. The US Department of Labor has proposed a new rule clarifying how 401(k) fiduciaries (the employer committees legally responsible for plan investment decisions) should evaluate so-called “alternative” assets, including private equity, private credit, and digital assets. The proposal came directly out of an [ ]