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Lawmakers Push to Include Cryptocurrencies in 401(k) Plans

May 5, 2022
1 min read
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ForUsAll is encouraged to see Senator Tuberville engaging with the important issue of including cryptocurrency in 401(k) plans. We look forward to working with lawmakers from both sides of the aisle to ensure everyday Americans have every tool at their disposal to save for a secure and comfortable retirement.

For decades, self-directed brokerage accounts have played a key role in giving 401(k) holders access to a broader range of investments. But now the Department of Labor is trying to change the rules overnight, because they’ve decided that one particular type of investment — cryptocurrency — should not be available to 401(k) participants. We don’t think that’s right.

401(k)s are the primary investment vehicle for everyday Americans, and they deserve the same opportunity to diversify their portfolios that wealthy Americans have. For some, that may include a limited holding in cryptocurrency, with appropriate education and guardrails in place — and self-directed brokerage accounts will continue to have an important role in providing that access.

As the first 401(k) provider to introduce a fiduciary-focused solution for cryptocurrency investments in 401(k) plans, ForUsAll has prioritized common sense investor protections — including a 5% cap on cryptocurrency allocations — to ensure Americans can safely reap the rewards of a diversified approach to their retirement savings.

We hope the DOL will reconsider its unnecessary and unprecedented interventions and clear the path toward a level playing field where all Americans have the same opportunity to make the most of their money.

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David Ramirez - CEO at ForUsAll
Jeff Schulte

Go beyond a basic 401(k)

Give your employees more than just a 401(k), join the movement.

Happy employees with a 401(k) they deserve offering more choice more growth.
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This material has been prepared for informational and educational purposes only and should not be construed as a recommendation by ForUsAll, Inc., its affiliates or employees (collectively, “ForUsAll”)  to activate a cryptocurrency window or invest in crypto.  Investing in crypto can be risky and investors must be able to afford to lose their entire investment.  You should consult with your own advisers before activating a cryptocurrency window or investing in crypto.  ForUsAll does not provide legal, tax, or accounting advice. Please refer to your Plan's fee disclosure for more details.© 2023 ForUsAll, Inc. All rights reserved.
1 Schwab 2022 401(k) Participant Study - Gen Z/Millenial Focus, October 2022.
2 As of 12/31/2022. Employees include both current employees and terminated participants with a balance.
3 "Morgan Stanley At Work: The Value of a Financial Advisor" Morgan Stanley, March 2022.
4 Sarah Britton was a client when she provided this testimonial through an independent third party review website. She received no compensation for her remarks. There are no known conflicts of interest in the provision of her comments related to the services provided.