Key Takeaways
- The Trump administration has issued an Executive Order about facilitating 401(k) investments in “alternative assets.”
- The Order directs the Secretary of Labor to examine current guidance and decide if it is appropriate for that purpose.
- The Order also directs the Secretary of Labor to issue guidance to clarify fiduciary responsibilities for 401(k) investing in alternative assets and to consider providing fiduciary guidance.
My last two articles, Things I Worry About (15) and Things I Worry About (16), reviewed the President’s August 7 Executive Order (EO) entitled Democratizing Access to Alternative Assets for 401(k) Investors (Democratizing Access to Alternative Assets for 401(K) Investors – The White House) and some of the misunderstandings about what the EO says.
This article focuses on parts of the EO that I believe to be particularly significant.
