Bloomberg Daily Tax Report (Aug. 15, 2025, 4:30 AM EDT) — On August 7, 2025, the Trump administration issued an executive order directing federal agencies to broaden retirement plan participants’ access to alternative assets—including cryptocurrency, private equity, private credit, and venture capital—through 401(k) plans. Market advocates quickly hailed the move as a democratization of investment opportunity. Critics, however, warned that expanded access without equally robust fiduciary safeguards could magnify legal exposure for plan sponsors.

Other recent publications highlighted the risks of private equity in retirement plans and ERISA legal practitioners emphasized the importance of a robust retirement plan fiduciary compliance paradigm.

For plan fiduciaries, the executive order cha

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