Will Woolston’s commentary was featured in a Law360 article covering the five areas benefits lawyers should pay attention to in 2026.
Will discussed alternative assets as a policy issue that will remain on his radar in 2026, stating that he is looking out for the possibility of the DOL issuing guidance or even a safe harbor related to alternative investments in 401(k) plans, given that "there's so much litigation around 401(k) plans" and investment offerings.
Such action from the DOL could "try to help give plans some comfort in broadening what they make available," Will said.
Further, Will is keeping an eye out for regulatory action that could help fend off ERISA class action litigation against employers, now that Daniel Aronowitz was confirmed as the head of the DOL's Employee Benefits Security Administration. "He's clearly indicated an interest in influencing fiduciary litigation," Will believed.
Will said that could develop through multiple types of DOL action, including amicus briefing in litigation or advisory opinion letters. Attorneys representing plaintiffs have also said they've been watching for any type of advisory opinion from the DOL that employers might try to use to curb ERISA litigation.
"I think it's fair to say that he has the feeling that maybe … plans and employers are getting sued too often, and too frequently, for these kinds of alleged breaches," Will noted.
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