{"id":5039,"date":"2025-08-08T15:47:48","date_gmt":"2025-08-08T20:47:48","guid":{"rendered":"https:\/\/www.mgocpa.com\/?post_type=perspective&#038;p=5039"},"modified":"2025-08-08T15:47:48","modified_gmt":"2025-08-08T20:47:48","slug":"private-equity-in-401k-plans","status":"publish","type":"perspective","link":"https:\/\/www.mgocpa.com\/perspective\/private-equity-in-401k-plans\/","title":{"rendered":"Private Equity Access in 401(k) Plans Gains Steam"},"content":{"rendered":"\n<p><strong>Key Takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A new executive order may allow 401(k) plans to invest in private equity, hedge funds, and other alternatives typically reserved for institutions.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Plan sponsors must weigh higher returns against risks like illiquidity, valuation challenges, and increased fiduciary oversight responsibilities.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Legal and regulatory frameworks are evolving fast, requiring plan providers to strengthen transparency, fee structures, and participant education.<\/li>\n<\/ul>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>On August 7, 2025, President Trump signed an <a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/08\/fact-sheet-president-donald-j-trump-democratizes-access-to-alternative-assets-for-401k-investors\/\" target=\"_blank\" rel=\"noreferrer noopener\">executive order<\/a> directing the Department of Labor (DOL) and Securities and Exchange Commission (SEC) to expand access to alternative assets \u2014 including private equity, real estate, and digital assets \u2014 for 401(k) plans. The goal: open the door to private equity, hedge funds, real estate, and even crypto in retirement plan menus.\u00a0As both <a href=\"https:\/\/www.mgocpa.com\/solution-industry\/employee-benefit-plan-audits\/\" target=\"_blank\" rel=\"noreferrer noopener\">401(k) auditors<\/a> and trusted advisors, MGO is helping plan sponsors understand what this\u00a0expanded access to private equity means for governance and compliance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why This Matters Now<\/h2>\n\n\n\n<p>With fewer public companies and growing demand for diversified retirement options, private equity firms and plan administrators have been advocating for broader access to private markets. Major players like Blackstone, KKR, and Apollo are pushing to offer these strategies to everyday savers through target date funds and pooled investment options.<\/p>\n\n\n\n<p>Regulators are responding, Trump\u2019s executive order is expected to accelerate this trend by instructing the DOL and SEC to build a framework for oversight and access.\u00a0This move is positioned as a retirement security initiative to democratize access to high-quality investment options, aiming to empower over 90\u202fmillion Americans currently excluded from alternative asset opportunities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Potential Benefits<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Higher return potential<\/strong>: Private equity has historically delivered strong long-term performance, with average annual returns nearing 14% compared to ~8% for public equities.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Diversification<\/strong>: Adding private market exposure can reduce correlation to public stocks and may help smooth volatility over time.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tax deferral<\/strong>: Returns on alternative investments in 401(k)s keep the same tax advantages as traditional plan assets.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Expanded access:<\/strong> Ordinary investors gain exposure to asset classes previously reserved for accredited or institutional investors, democratizing retirement portfolio options.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Risks and Concerns<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Liquidity and transparency<\/strong>: Private investments are harder to value, less liquid, and more complex to manage than traditional funds.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fee structures<\/strong>: Management and performance fees are significantly higher than index funds, which can erode participant returns.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fiduciary exposure<\/strong>: Plan sponsors carry legal responsibilities under the <a href=\"https:\/\/www.dol.gov\/general\/topic\/retirement\/erisa\" target=\"_blank\" rel=\"noreferrer noopener\">Employee Retirement Income Security Act<\/a> (ERISA). If alternatives are misused or misunderstood, liability risk increases.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Focused investment risk: <\/strong>Private equity funds may concentrate on specific sectors or strategies, which can increase exposure to market shifts or operational volatility.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Potential for loss:<\/strong> Like all investments, private equity carries risk \u2014 including the possibility of capital loss \u2014 despite the perception of higher returns.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><picture><source srcset=\"https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-1024x384.webp 1024w,https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-412x155.webp 412w,https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-768x288.webp 768w,https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-1536x576.webp 1536w,https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig.webp 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-1024x384.webp\" height=\"384\" width=\"1024\" srcset=\"https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-1024x384.webp 1024w, https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-412x155.webp 412w, https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-768x288.webp 768w, https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig-1536x576.webp 1536w, https:\/\/www.mgocpa.com\/wp-content\/uploads\/2025\/08\/MKT001026_401k-into-private-equity_article_ig.webp 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" class=\"wp-image-5040 sp-no-webp\" alt=\"Graphic showing the potential benefits and key risks of private equity in 401(k) plans\" loading=\"lazy\" decoding=\"async\" title=\"Private Equity in 401(k) Plans: Weighing the Risks\"  > <\/picture><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Regulatory Momentum<\/h2>\n\n\n\n<p>The Trump administration\u2019s order builds on a <a href=\"https:\/\/www.dol.gov\/agencies\/ebsa\/about-ebsa\/our-activities\/resource-center\/information-letters\/06-03-2020\" target=\"_blank\" rel=\"noreferrer noopener\">2020 DOL information letter<\/a> that cautiously allowed private equity in defined contribution plans \u2014 but few sponsors acted. The new order goes further by directing agencies to build consistent frameworks for oversight, pricing, and participant protections.<\/p>\n\n\n\n<p>The order also instructs the SEC to revise applicable regulations to support the inclusion of alternative assets in participant-directed defined contribution plans. The SEC has indicated it may issue new valuation and fee disclosure rules to support this shift.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Plan Sponsors Should Do<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Step<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\"><strong>Action<\/strong><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Stay current<\/td><td class=\"has-text-align-left\" data-align=\"left\">Monitor new federal guidance and IRS\/DOL bulletins.<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Reassess governance<\/td><td class=\"has-text-align-left\" data-align=\"left\">Evaluate how your investment committee and advisors assess new asset classes.\u00a0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Educate participants<\/td><td class=\"has-text-align-left\" data-align=\"left\">Communicate risk, fee impact, and access rules clearly.<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Prepare for audit<\/td><td class=\"has-text-align-left\" data-align=\"left\">Document due diligence and plan updates thoroughly.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How MGO Can Help<\/h2>\n\n\n\n<p>As plan sponsors consider adding private equity or other alternatives to 401(k) lineups, fiduciary responsibilities and audit requirements become more complex. MGO offers guidance to help organizations evaluate these changes, manage risk, and stay compliant with ERISA and DOL expectations.<\/p>\n\n\n\n<p>Our <a href=\"https:\/\/www.mgocpa.com\/solution-industry\/employee-benefit-plan-audits\/\" target=\"_blank\" rel=\"noreferrer noopener\">employee benefit plan (EBP) audit team<\/a> conducts hundreds of 401(k) plan audits annually. We understand the documentation, disclosures, and governance needed to support evolving investment strategies. Whether you&#8217;re navigating new guidance, restructuring plan offerings, or preparing for audit readiness, we bring the insight and experience to support your goals. <a href=\"https:\/\/www.mgocpa.com\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Contact us today to learn how we can help you<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways: &#8212; On August 7, 2025, President Trump signed an executive order directing the Department of Labor (DOL) and Securities and Exchange Commission (SEC) to expand access to alternative assets \u2014 including private equity, real estate, and digital assets \u2014 for 401(k) plans. The goal: open the door to private equity, hedge funds, real [&hellip;]<\/p>\n","protected":false},"featured_media":5041,"template":"","meta":{"_acf_changed":true,"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"perspective_topic":[256,253,251,241,168],"perspective-type":[42],"class_list":["post-5039","perspective","type-perspective","status-publish","has-post-thumbnail","hentry","perspective_topic-401k","perspective_topic-erisa","perspective_topic-private-equity","perspective_topic-real-estate","perspective_topic-sec","perspective-type-articles"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Private Equity Access in 401(k) Plans Gains Steam - MGO CPA | Tax, Audit, and Consulting Services<\/title>\n<meta name=\"description\" content=\"Trump\u2019s order expands 401(k) access to private equity. 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