The Department of Labor’s proposal to add private equity funds to 401(k) plans made headlines and raised concerns in June. But it will take a lot of time for these funds to work their way through the regulatory system and be made available to accredited investors, let alone retail clients, according to a panel of experts who spoke recently at this year’s virtual Morningstar Investment Conference. In February, when Vanguard broke the news that it would be introducing private equity funds to investors, the fund giant startled those who feel this type of fund should be limited to high-net-worth investors.