The Retirement Alternatives Test — Audit finding

Reporting and findings

1. documented

   Trump's administration went past the order itself, rescinding guidance and proposing a fiduciary safe harbor that opens both a regulatory pathway and a commercial opportunity. No transfer mechanism or realized benefit is established: that would take a final rule, plan adoption, fund flows, disclosed conflicts and participant outcomes.

   • The American Presidency Project: 2024 Republican Party PlatformChapter Three, section 5; Chapter Six, section 1
   • The White House: Democratizing Access to Alternative Assets for 401(k) InvestorsSections 2-3
   • U.S. Government Accountability Office: 401(k) Plans: Industry Data Show Low Participant Use of Crypto Assets Although DOL's Data Limitations PersistHighlights, 2022 asset total, and portfolio simulation
   • Associated Press: Trump opens the door for alternative assets in 401(k) retirement plansIndustry-demand, fee-risk, and implementation sections
   • The White House: Fact Sheet: President Donald J. Trump Democratizes Access to Alternative Assets for 401(k) InvestorsPurpose and diversification claims
   • U.S. Department of Labor: US Department of Labor rescinds 2021 supplemental statement on alternative assets in 401(k) plansOpening paragraphs and description of rescinded guidance
   • U.S. Department of Labor: US Department of Labor proposes landmark rule to democratize access to alternative investments in 401(k) plansOpening paragraphs; proposed process-based safe harbors and fiduciary-selection framework
   • Axios: Move to open 401(k)s to private credit and crypto comes at awkward timeOpening section and What's next; proposal and public-comment status