U.S. Rep. French Hill (R-AR), chairman of the House Committee on Financial Services, along with eight other Republican lawmakers, are urging the Securities and Exchange Commission (SEC) to support an executive order that allows 401(k) investors to access alternative assets.
In a letter to SEC Chairman Paul Atkins, the lawmakers praised the executive order 14330 for its potential to help Americans enhance their retirement savings. The lawmakers encourage the SEC to work with the Department of Labor to revise its regulations and guidance. The goal, they said, is to make these investments accessible to millions of Americans to prepare for retirement.
“We write to express our support for President Trump’s Aug. 7, 2025, Executive Order 14330 on ‘Democratizing Access to Alternative Assets for 401(k) Investors.’ We applaud the EO’s policy ‘that every American preparing for retirement should have access to funds that include investments in alternative assets when the relevant plan fiduciary determines that such access provides an appropriate opportunity…to enhance the net risk-adjusted returns,” the letter states.
The letter was also signed by Reps. Ann Wagner (R-MO), Frank Lucas (R-OK), Warren Davidson (R-OH), Marlin Stutzman (R-IN), Andrew Garbarino (R-NY), Mike Lawler (R-NY), Troy Downing (R-MT), and Mike Haridopolos (R-FL).
“Given these directives, we encourage the SEC to provide swift assistance to the Secretary of Labor and to make any necessary revisions to its current regulations and guidance. We also request the SEC review bipartisan legislation being advanced in the 119th Congress concerning accredited investors. We are hopeful that such actions will help the 90 million Americans that are currently restricted from investing in alternative assets to secure a dignified, comfortable retirement,” the letter concludes.