The Trump administration has proposed a rule that would allow 401(k) retirement plans to more easily include alternative assets such as cryptocurrency, real estate, and private market assets.
The Department of Labor (DOL) issued its rule to include more options for 401(k) plans, which came after President Donald Trump signed an executive order last August that directs that the DOL and the Securities and Exchange Commission (SEC) to offer expanded assets in 401(k)s.
“This proposed rule will show how plans can consider products that better reflect the investment landscape as it exists today,” DOL Secretary Lori Chavez-DeRemere said in a statement.
“This proposed rule is an initial step in implementing the President’s Executive Order in a safe and smart manner, broadening access to additional retirement plan options for millions of Americans while being mindful of the importance of protecting retirement assets. Treasury is grateful for the Department of Labor’s partnership and looks forward to continued engagement as the rulemaking process continues,” Treasury Secretary Scott Bessent said in a statement.
The Trump War Room wrote:
Promises made, promises kept. President Trump delivers again for working Americans with a newly proposed @USDOL rule that puts Americans first and ensures that workers saving through 401(k) plans have access to private market assets. This rule is about freedom and fairness, putting control in the hands of American workers to reach secure financial futures.
Advocates for the rule proposal believe that including access to alternative investments in 401(k)s could provide greater diversification away from public markets and potentially higher returns. On the obverse side, some financial advisors believe that 401(k) investors lack the knowledge or expertise to invest in these assets.
David Pasch, Executive Director of the Council for a Safe and Secure Retirement, said in a written statement to Breitbart News, “We applaud the DOL for advancing President Trump’s Executive Order to expand retirement investment options for American workers. This proposed rule is a critical step to ending the two-tiered system that has prevented 401(k) savers from accessing the same diversification and investment opportunities available to pension fund participants. Today marks a major step forward in expanding that access so working families can benefit from the same options, while retaining the strong fiduciary protections that 401(k) accounts already provide.”
“This change couldn’t come soon enough. While some Americans are still falling behind in retirement savings, the elites keep getting richer. The Trump administration wants to make sure that America’s workers and retirees are protected and that they can build wealth,” the Council for a Safe and Secure Retirement wrote about the Trump administration’s efforts to expand alternative assets in retirement accounts.
401(k) plans are not barred from offering these alternative assets; however, many fear lawsuits challenging their investment decisions, according to DOL officials. The DOL rule would create a safe-harbor provision that would protect retirement plan providers from litigation.
Last June, Fabrizio Ward, one of Trump’s main polling firms, found in a survey that 87 percent of Trump voters back adding more investment options for retirement accounts.
In May 2025, the Trump administration rescinded guidance set by the Biden administration that discouraged employers from offering cryptocurrency-related investments to their workers. A December 2025 poll conducted by Cyngal and Impact Research on behalf of the Council for a Safe and Secure Retirement found that 65 percent of voters back including alternative assets in retirement plans.
Labor Secretary Lori Chavez-DeRemer said that the Biden White House tried to “put their thumb on the scale” to discourage Americans from investing in cryptocurrencies such as Bitcoin.
“We’re making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats,” Chavez-DeRemer said at the time.
