House Financial Services Committee Chairman French Hill, R-Ark., and Subcommittee on Capital Markets Chair Ann Wagner, R-Mo., were joined by seven other GOP lawmakers when they wrote to Securities and Exchange Commission (SEC) Chairman Paul Atkins on Monday to express support for the move.<\/p>\n
They said President\u00a0Donald Trump’s<\/a> executive order on the subject has the potential to enhance Americans’ retirement savings and encouraged the SEC to work with the Labor Department in revising relevant regulations to make the investments more accessible.<\/p>\n “We applaud the EO’s policy ‘that every American preparing for retirement should have access to funds that include investments in alternative assets when the relevant plan fiduciary determines that such access provides an appropriate opportunity\u2026 to enhance the net risk-adjusted returns,” the lawmakers wrote.<\/p>\n SEC CHAIR WANTS PRIVATE MARKET INVESTMENTS AVAILABLE FOR AMERICANS’ 401(K) PLANS<\/a><\/p>\n House Financial Services Chairman French Hill, R-Ark., was joined by eight other GOP lawmakers writing in support of the regulatory changes. (Tom Williams\/CQ-Roll Call, Inc via Getty Images \/ Getty Images)<\/p>\n The letter noted that Trump’s executive order directs the\u00a0SEC and Labor Department<\/a> to determine whether parallel regulatory changes are needed, as well as calling for the SEC to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising its own regulations.<\/p>\n The GOP lawmakers encouraged the SEC to provide swift assistance to the Labor Department and to make changes to its current\u00a0regulations and guidance<\/a>.\u00a0<\/p>\n TRUMP’S 401(K) EXPANSION ORDER: WHAT NEW INVESTMENTS WILL BE AVAILABLE?<\/a><\/p>\n Paul Atkins, chairman of the Securities and Exchange Commission, during a television interview July 18, 2025. (Stefani Reynolds\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n They also included a request that the SEC “review bipartisan legislation being advanced in the 119th Congress concerning accredited investors. We are hopeful that such actions will help the 90 million Americans that are currently restricted from investing in alternative assets to secure a dignified, comfortable retirement.”<\/p>\n Last month, Trump signed an executive order opening 401(k) plans to\u00a0alternative assets<\/a>, including private market investments, real estate, actively managed investments in digital assets, commodities, infrastructure projects and longevity risk-sharing pools.<\/p>\n TRUMP SIGNS ORDER TO OPEN 401(K)S TO PRIVATE MARKETS: WHAT IT MEANS FOR YOUR RETIREMENT<\/a><\/p>\n Labor Secretary Lori Chavez-DeRemer and the Labor Department are working with the SEC to implement Trump’s orders. (Chip Somodevilla\/Getty Images \/ Getty Images)<\/p>\n The Labor Department on Tuesday issued an advisory opinion that concluded lifetime income investment options would meet the agency’s requirements as a qualified default investment alternative under the Employee Retirement Income Security Act.<\/p>\n It also rescinded a\u00a0Biden-era guidance<\/a> from December 2021 that discouraged fiduciaries from considering alternative assets in 401(k) retirement plan investment menus.<\/p>\n![\"French](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/09\/French-Hill-Congress-2024.jpg\")
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