Donald Trump is considering an executive order that would allow private equity firms to access U.S. 401(k) retirement accounts, a $9 trillion pool of capital, according to the Financial Times. The proposed order would instruct the Labor Department, Treasury, and SEC to evaluate expanding access to retirement plans in private markets, such as buyout funds and real estate. If finalized, the move could benefit firms like Blackstone, KKR, and Apollo, while offering long-term savers exposure to potentially higher returns. Critics warn of high fees, liquidity risks, and opaque valuations. SEC Chair Paul Atkins signaled the agency may ease existing restrictions to broaden access to alternative assets. The development coincides with GOP efforts to revise controversial federal retirement cuts amid pushback from employees and unions.
