The Department of Labor's proposed investment-selection regulations received approximately 45,000 comments during a 60-day period ending June 1, with the vast majority favorable, according to Kutak Rock's John Schembari. Employers praised the asset-neutral safe harbor and its protection for fiduciaries, while groups like AARP and the AFL-CIO expressed concern about opening 401(k) plans to risky investments. Investment consultants welcomed a suggestion that fiduciaries without one might need to hire an advisor. Schembari noted that clients are in a due diligence phase on alternative investments and expects the regulation to be finalized either late this year or in the first half of 2027, with an effective date likely January 1, 2028.