EO 14330
Democratizing Access to Alternative Assets for 401(k) Investors
Economy & TradeGovernment Reform
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Summary
This executive order directs the Department of Labor to reexamine and revise its guidance on fiduciary duties under retirement plan law to enable 401(k) plan administrators to offer alternative asset investments (such as private equity, real estate, and commodities) to workers, similar to options available to public pension plans and wealthy investors.
Key Points
- 1Defines 'alternative assets' to include private market investments, real estate, digital assets, commodities, infrastructure projects, and lifetime income strategies
- 2Requires the Secretary of Labor to reexamine Department of Labor guidance on fiduciary duties under ERISA within 180 days, including consideration of rescinding a 2021 Private Equity Statement
- 3Directs the Secretary to clarify fiduciary standards and propose rules or safe harbors to help plan fiduciaries balance higher expenses against potential long-term returns and diversification benefits
- 4States the policy goal that American workers should have access to alternative asset investments in their 401(k) plans when plan fiduciaries determine it appropriate
This summary is for informational purposes only. It may not capture all nuances of the executive order. Always refer to the official text for authoritative information.
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