Introduction The rise of private equity and private credit allocations in defined contribution (DC) and defined benefit (DB) plans has been framed as innovation: diversifying returns, reducing volatility, and capturing “illiquidity premiums.” But beneath the marketing is a reality of offshore tax havens, opaque fee structures, and conflicted party-in-interest relationships. Just as offshore-leveraged annuities fail … Continue reading Why Offshore Private Equity and Private Credit Pose ERISA Prohibited Transaction Risks