Overview

• The executive order signed on August 7 tasks the Labor Department, Treasury and SEC with revisiting fiduciary standards and ERISA guidance to permit alternative assets in defined-contribution plans.
• Regulators have 180 days to propose rule changes that could open the $12–$12.5 trillion retirement market to private equity, real estate and digital currencies.
• Bitcoin surged about 2% to briefly top $116,000 as investors anticipated fresh demand driven by expanded 401(k) allocations.
• Asset managers including Blackstone, KKR, Apollo Global Management and BlackRock are preparing funds to capture potential inflows from workplace retirement accounts.
• Critics such as Senator Elizabeth Warren warn that illiquid, volatile investments could saddle savers with higher fees and expose plan administrators to legal challenges.