Aronowitz said on 4 May the criticism that the proposal weakens fiduciary protections is “absolutely not” true.
The latest report centres on his rebuttal to concerns that the Department of Labor’s new alternatives framework could dilute standards for retirement-plan fiduciaries.
With no earlier related reports provided, the main context is an ongoing debate over whether expanding investment options can be reconciled with existing fiduciary duties.
Will the DOL's new 'safe harbor' truly protect 401(k) savers from the riskiest alternative assets now entering their retirement plans?
How will fiduciaries practically value and benchmark opaque private assets to satisfy the DOL's new six-factor test and avoid future lawsuits?
With $178 billion set to flood alternative markets, can the system handle this influx without creating new bubbles and unforeseen risks for retirees?