The question of how private market assets belong inside defined contribution plans has moved from theoretical to operational, as plan sponsors, asset managers, and regulators begin wrestling with the structural mechanics of inclusion. Unlike defined benefit plans, DC structures place liquidity risk directly on the individual participant, making the standard illiquidity premium argument more complicated than it appears in institutional portfolios. The core tension is valuation: private assets reprice infrequently, creating fairness problems when participants enter or exit a fund holding illiquid positions. Daily liquidity requirements embedded in most DC recordkeeping infrastructure are fundamentally mismatched with the lock-up periods typical of private equity, private credit, and real assets. Regulatory guidance from the Department of Labor has been cautious but not prohibitive, leaving plan fiduciaries navigating significant liability exposure without a clear safe harbor. The practical path most often discussed involves target-date funds or collective investment trusts as wrappers, limiting direct participant exposure while preserving some illiquidity premium capture. Fiduciary liability, valuation methodology, and recordkeeper readiness remain the three active constraints shaping whether and how this integration actually proceeds.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
