Trump Executive Order to Help Open Up 401(k)s to Private Markets [View all]
The post my retirement has been waiting for!
Trump Executive Order to Help Open Up 401(k)s to Private Markets
by Miriam Gottfried, Dylan Tokar, Matt Wirz
President Trump is expected to sign an executive order in the coming days designed to help make private-market investments more available to U.S. retirement plans, according to people familiar with the matter.
The order would instruct the Labor Department and the Securities and Exchange Commission to provide guidance to employers and plan administrators on including investments like private assets in 401(k) plans, the people said.
The details of the order aren’t yet final and are still subject to review, the people said.
An order could help pave the way for big managers of private assets such as Apollo Global Management and Blackstone to access the vast sums of retirement savings held by workers who don’t have a traditional pension. Institutional investors such as pension funds have largely maxed out on private markets, leading firms to look to individual investors for new sources of growth.
In theory, retirement plan sponsors can already put some of their investments in private funds and some already do in small quantities. But many companies remain concerned they would be sued by their employees over the higher fees associated with private-market investment products.
Continues…
https://www.msn.com/en-us/money/markets/trump-executive-order-to-help-open-up-401-k-s-to-private-markets/ar-AA1IFFDr
= new reply since forum marked as read