Lawmakers urge Trump administration to investigate comments on 401(k) rule

Trump administration: The Trump administration encompasses the executive branch of the U.S. government led by President Donald Trump in his second term. It oversees federal agencies including the Department of Labor, which has advanced regulatory changes to retirement plan rules. In this news, the administration is being urged to investigate the authenticity of public comments submitted in support of a proposed rule expanding access to alternative investments in 401(k) plans. Rule Proposal: The Department of Labor proposed a rule earlier in 2026 that would create a process-based safe harbor for fiduciaries considering alternative assets such as private equity, crypto, and real estate in 401(k) plans. Comment Volume: The proposal received tens of thousands of public comments during its comment period, with recent analysis raising questions about the authenticity of a significant portion of supportive submissions. Bipartisan Concerns: Democratic lawmakers have expressed ongoing skepticism about the rule's potential impact on retirement security and conflicts of interest in its development.