Move to open 401(k)s to private credit and crypto comes at an awkward time

The Labor Department on Monday proposed rules to open 401(k) plans to private equity, private credit, crypto and other alternative assets. Why it matters: The move could unlock trillions of dollars in new investment for alternative assets — but critics warn that it could expose millions of retirement savers to higher risk and volatility. Catch up quick: The proposed rules, from…