Trump Order Expands 401(k) Access to Private and Crypto Assets

President Donald Trump's August 7 executive order directs the U.S. Labor Department and the Securities and Exchange Commission to issue guidance permitting employers to include a range of private assets—such as private equity, hedge funds, private credit, REITs, venture‑capital funds, infrastructure and crypto‑assets—in 401(k) and other defined‑contribution plans. Experts note that while the change could broaden investment options for retirees, it also raises concerns about risk exposure for savers who lack experience with these alternative investments.

Kiplinger’s May 2026 tax letter confirms the policy shift, indicating that the 401(k) system is poised to allow these alternative assets for the first time, though the new options are not expected to affect every participant in the current year. The discussion focuses on the potential impact on retirement security and the need for clear regulatory guidance.