The rules governing your retirement plan may be changing.
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rules → govern → plan
As we reported in July, President Donald Trump wants to encourage 401(k) plans to invest more in private equity, real estate and cryptocurrency, which can be complex and risky.
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which → report → equity
To pave the way, the Department of Labor has proposed rules that would make it harder for employees to hold companies liable for how they oversee retirement plans.
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they → pave → plans
Employers are required to serve the best interests of their employees when choosing investment options.
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Employers → require → options
Under the proposed changes, a company that follows a certain process would get the benefit of the doubt in court, making it harder for workers to sue over the management of their 401(k).
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workers → propose → 401(k
A spokesperson for the Department of Labor did not respond to requests for comment.
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spokesperson → respond → comment
In an announcement from March, the department said the proposed rule change will “democratize access to alternative investments in 401(k) plans” and “lower litigation risks” for employers who are acting with good judgment.
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who → say → judgment
The new rules, expected to be finalized this year, also raise broader questions: What investment options are already offered in people’s retirement accounts, and what are people paying in fees?
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people → expect → fees
We’ve asked the public to send us their annual 401(k) disclosures so we can understand the range of funds and fees people have in their accounts.
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people → ask → accounts
So far, we’ve heard from more than 200 people, many of whom also asked us questions about their plans.
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many → hear → plans
To find the answers, we spoke with eight economists, lawyers and retirement benefit experts.
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we → find → economists
If you have questions about your specific retirement plan, experts recommend talking to a fee-only financial planner who will serve as a fiduciary (which means they must provide advice in your best financial interest, not theirs).
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they → have → interest
You can check a financial adviser’s qualifications by searching here.
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You → check → qualifications
How could the proposed changes affect my 401(k)?
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changes → propose → 401(k
How do I know if my 401(k) is in good shape?
How can I tell if I’m paying high fees?
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I → know → fees
How can I compare my 401(k) to plans offered by similar companies?
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I → compare → companies
What if I don’t like my retirement plan?
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I → like → plan
How could the proposed changes affect my 401(k)?
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changes → propose → 401(k
Under the Labor Department’s proposed rule change, employers who show that they’ve considered a set of six factors when choosing investments and document their reasoning when building a plan should have greater protection from a potential lawsuit.
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they → propose → lawsuit
That liability tends to sit with your employer because they have final say over your plan’s investment options, even though companies usually hire firms like Fidelity or Vanguard to run the plan, and those firms often suggest which funds to include.
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firms → tend → funds
A company could document its reasoning for choosing to offer certain investment options and still act imprudently, said Tim Hauser, who was the deputy assistant secretary at the Labor Department’s Employee Benefits Security Administration until last December.
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who → document → December
In his three-plus decades there, he encountered cases in which companies “generated a lot of paper” to explain their reasoning but, ultimately, didn’t make wise financial decisions based on the information available to them.
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companies → encounter → them
Some retirement plans are stuck in investments with bloated fees and costly add-ons.
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plans → stick → fees
Share your standard plan documents with us to help reveal which financial products companies are pushing, and what they’re charging workers.
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they → share → workers
Monique Morrissey, a senior economist for the Economic Policy Institute, wrote in a June letter that the proposal would “gut protections for retirement savers” and prioritize maximizing investment returns over balancing risk.
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proposal → write → risk
She cited a 2025 AARP survey finding most Americans don’t think it’s important to be able to access private market investments or cryptocurrency in their retirement accounts.
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it → cite → accounts
But Bonnie Treichel, the founder of Endeavor Retirement, a consulting firm for retirement advisers, said the proposed rules are a framework not a mandate.
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rules → consult → advisers
Employers could offer these investments, but that doesn’t mean they’ll rush to add riskier investment options.
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they → offer → options
To find out if the rule change may affect your 401(k), ask your plan administrator, often someone in your human resources department, whether the company plans to offer new investment options.
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company → find → options
(The plan administrator is often listed on the same document that lists your fees; find out how to access that information in the form on this post.)
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that → list → post
How do I know if my 401(k) is in good shape?
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401(k → know → shape
For many people, a 401(k) only needs close attention when starting a job, when leaving a job and when closing in on retirement.
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401(k → need → retirement
The rest of the time, it mostly runs itself.
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it → run → itself
Still, experts we interviewed said it’s worth checking in on the plan once a year as fees and fund options can change.
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fees → interview → plan
A healthy account comes down to three basics: how much you save, how much risk you take and how much you pay in fees, experts say.
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experts → come → fees
The other two you manage from a menu of options your employer builds.
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employer → manage → options
The more you save — and the earlier you start — the more time your money has to grow.
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money → save → time
Companies often offer to match part of your contribution, so if you can swing it, experts advise putting in at least enough to collect the full match.
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experts → offer → match
Otherwise you’re leaving money on the table.
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you → leave → table
You also control what your savings are invested in, based on the menu of investment options your plan offers.
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plan → control → options
…and 47 more, not listed.
