Trump’s Executive Order Levels the Playing Field for Retirement Savers

President Donald Trump has taken a bold step to strengthen retirement security for millions of Americans by signing an executive order that opens 401(k) plans to private equity and private credit investments.

For too long, only wealthy investors and public pension systems have had access to the strongest-performing asset classes in the market. Meanwhile, ordinary workers with 401(k) plans have been limited to a shrinking pool of public stocks and bonds. This executive action changes that dynamic, ensuring that everyday Americans have the same opportunity to grow their savings that Wall Street insiders and government pension funds have enjoyed for decades.

Louisiana’s own Senator Bill Cassidy is helping lead the charge. Cassidy, as Chairman of the Senate HELP Committee, has endorsed the President’s action and urged regulators to move quickly. He and a coalition of senators have called on the Department of Labor to provide fiduciaries with safe-harbor protections and clear rules so that employers can confidently offer new investment options to workers. Cassidy has made retirement reform one of his top priorities, emphasizing that families deserve stronger tools to save and that outdated regulations should not stand in the way of progress.

The numbers make the case clear. Public pensions across the country have earned some of their best returns from private equity — with annualized results well above public markets. Private equity also fuels the economy directly, supporting millions of jobs, higher wages, and small business growth in states like Louisiana. Here at home, private equity activity supports more than 150,000 jobs and contributes $24 billion to our state’s economy.

By opening 401(k) menus to these investments, Trump and Cassidy are democratizing access and giving workers the tools to build stronger, more secure retirements. This is a matter of fairness. Public employees and wealthy investors shouldn’t be the only ones who can benefit from the growth of private markets.

With this executive order and the backing of leaders like Senator Cassidy, America is taking a major step toward leveling the playing field for savers and putting retirement security back in the hands of working families.