Fisher Phillips' Cryptocurrency and Employee Benefits Insight Cited by National Publications

News

6.15.22

Phillip Bauknight and Ron Pierce’s Insight “Dept of Labor Sued in Crypto 401(k) Guidance Lawsuit: What Employers Need to Know” was republished by Labor & Employment Law Daily and SHRM, and was referenced by BenefitsPro. The article details a recent lawsuit filed against the US Department of Labor alleging that federal officials are improperly restricting investment options.

In the articles, Phil and Ron outline the allegations of the lawsuit and explain what employers who choose to include cryptocurrencies in their 401(k) investment menu should do. They say, “Employers weighing digital assets for their 401(k) investment menu should consider EBSA’s scrutiny for now. To include a cryptocurrency in their menu, they will want to have a “robust” monitoring process and prepare for a potential EBSA audit.”

To read the articles visit Labor & Employment Law Daily, SHRM, and BenefitsPro.

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