New Plan Could Allow Your 401(k) to Invest in Crypto | Crypto

New Plan Could Allow Your 401(k) to Invest in Crypto

– A trio of Republican lawmakers introduced a bill including digital assets.

– The bill will extend the acceptable investment classes in defined contribution plans.

– The bill proposes to do all that by actually CREATING the term covered investment and adding it to ERISA 404(a) saying that it means any direct or indirect investment; and (II) includes, but is not limited to several investment classes mentioned in the bill, including crypto.

– The trio of the U.S. Sens. Pat Toomey (R-PA), Tim Scott (R-SC) and U.S. Rep. Peter Meijer (MI-03) introduced the Retirement Savings Modernization Act to bolster Americans retirement savings by allowing workers to diversify assets included in defined contribution plans, such as 401(k) plans.

– The legislation will amend the Employee Retirement Income Security Act of 1974 (ERISA) to clarify that private sector retirement plan sponsors may offer plans, including both pensions and 401(k)s, that are prudently diversified across the full range of asset classes.

US Lawmakers Introduce Bill Allowing Crypto Investments in 401k Retirement Plans New Plan Could Allow Your 401(k) to Invest in Crypto

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