Overview

• The executive order tasks the Labor Department, Treasury and SEC with reviewing 401(k) fiduciary guidelines for alternative assets.
• The change could open roughly $12.5 trillion held in about 90 million private retirement accounts to cryptocurrencies and property investments.
• Savers would for the first time gain access to higher-growth but volatile assets beyond traditional government bonds and index funds.
• Major asset managers including Blackstone, KKR and Apollo Global Management stand to benefit from new inflows if revisions are finalized.
• Experts warn that adding crypto and private real estate could boost long-term returns while exposing Americans to stronger market swings and potential legal liabilities.