Trump’s 401(k) Executive Order to Unlock US$9.3 Trillion for Private Markets
- Unity Holdings
- Oct 22
- 1 min read
On August 7th, 2025, U.S. President Trump signed Executive Order 14330' (EO), which directs the U.S. Department of Labor (DOL) and the Securities and Exchange Commission (SEC) to issue guidance for employers regarding the integration of private market assets into U.S. 401(k) retirement plans.
We provide a basic primer on the U.S. pension plans—namely, Defined Benefit and Defined Contribution, where 401(k)s sit—and analyze the impact that the EO will have private assets and private credit in particular.
