Fact Sheet: President Donald J. Trump Democratizes Access to Alternative Assets for 401(k) Investors The White House August 7, 2025 EXPANDING INVESTMENT CHOICES FOR 401(K) PLANS: Today, President Donald J. Trump signed an Executive Order to allow 401(k) investors to access alternative assets for better returns and diversification.
The Order directs the Secretary of Labor to reexamine the Department of Labor’s guidance on a fiduciary’s duties regarding alternative asset investments in ERISA-governed 401(k) and other defined-contribution plans. The Order instructs the Secretary of Labor to clarify the Department of Labor’s position on alternative assets and the appropriate fiduciary process associated with offering asset allocation funds containing investments in alternative assets. The Order directs the Secretary of Labor to consult with the Secretary of the Treasury, the Securities and Exchange Commission, and other federal regulators to determine whether parallel regulatory changes should be made at those agencies to give effect to the purpose of the Order. The Order directs the Securities and Exchange Commission to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising applicable regulations and guidance.
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