Clifford Chance

Presidential Action on Defined Contribution Investments

August 8, 2025

On August 7, 2025, the President of the United States signed an Executive Order titled "Democratizing Access to Alternative Assets for 401(k) Investors" directing three US government agencies to change the investment rules that apply to defined contribution retirement plans in the United States to make defined contribution plan investments in alternative asset classes (e.g., private equity, private real estate, private credit, crypto, hedge, etc.) easier to achieve and more likely to happen.

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