President Trump on Thursday signed an executive order that could allow millions of Americans saving for retirement through 401(k) accounts to invest in higher-risk private equity and cryptocurrency assets.

The executive order doesn't immediately change how people will invest for retirement through their employer-sponsored accounts, as federal agencies would need to rewrite regulations to allow expanded investment choices. That's a process that experts say could take months, or longer, to complete.

But once done, employers could offer a broader array of mutual funds and investments to workers, according to the White House. New plans could invest in alternative assets, particularly private equity, cryptocurrencies and real estate.

The move comes as the 401(k) has become the primary vehi

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