The Trump administration is finalizing an executive order that would pave the way for 401(k) retirement savings plans to invest in private equity, according to people familiar with the matter.
President Donald Trump could sign the directive soon, but details are still being discussed and no date is set for an announcement, said the people, who asked not to be identified discussing private deliberations. The move would be a major win for the industry, which has been lobbying to secure a piece of the roughly $12.5 trillion held in 401(k)s.
Top officials in Washington have been weighing a directive for months that would ease the legal concerns that have long kept alternative assets out of most worker defined-contribution plans. Retirement portfolios are mostly concentrated in stocks and bonds in part because corporate plan administrators are reluctant to venture into illiquid and complex products.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
This article originally appeared here and was republished with permission.
 retirement savings plans to invest in private equity.){kind=link}