Trump signs order for alternative assets investment options in US retirement system

US President Donald Trump has signed an executive order that allows alternative assets such as digital assets, private equity, and real estate to be incorporated in individual retirement plans.

According to a White House statement, Trump wants to provide American workers with more investment options to ensure a better and more financially secure retirement.

The statement also stated that the Department of Labor has been directed to evaluate existing investing guidelines for retirement plans, known as “401(k)” programs in the United States.

It said that the appropriate processes for including alternative assets in these plans should be clarified.

“In carrying out the directives in this section, the Secretary shall, as appropriate, consult with the Secretary of the Treasury, the Securities and Exchange Commission (SEC), and other Federal regulators as necessary to carry out the policy objectives of this order, including as to parallel regulatory changes that may be incorporated by such other Federal regulators,” it said.

The statement stated that more than 90 million Americans are enrolled in such programs, yet the majority are now unable to participate in alternative assets, despite the fact that alternative assets provide higher returns and portfolio diversification.

Meanwhile, Trump signed a separate executive order to prevent US banks from refusing service to customers based on their political views, religious beliefs, or legitimate business activities.

The executive directive asked banks authorities to abolish restrictions that unfairly reject clients on grounds such as “reputation risk.”