'Disaster in the Making': Trump to Open 401(k)s to Crypto, Private Equity Vultures | Common Dreams
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"Stuffing private equity, crypto, and other 'alternative assets' into 401(k)s is about propping up scams and bailing out an industry that's run out of buyers," said one critic.

Editor’s note: He signed it.

U.S. President Donald Trump is expected to sign an executive order on Thursday that would allow private equity and cryptocurrencies into Americans’ 401(k)s, appeasing corporate interests that lobbied for the change and disregarding warnings about the risks it poses to retirement accounts.

Citing an unnamed senior White House official, CNN reported that “the order calls for the Labor Department and Securities and Exchange Commission to issue guidance to employers about providing access to those alternative investments in their retirement accounts.”

  • PodPerson@lemmy.zipEnglish
    2·
    1 month ago

    Get what you’re saying, but that sounds like a bit of a stretch. If any employer did want to go all in on stupid like that, people would still be able to do the following:

    • don’t contribute money to it (I certainly wouldn’t - I’d pay out to another account under my control)
    • roll over / transfer any funds that are already in there into an account of your own control
    • look for another job (big red flag for an employer, if you ask me)