Core Insights - Federal regulators and the brokerage industry's lobbying organization are advancing efforts to include private market exposure in defined contribution retirement accounts [1][2] Group 1: Regulatory Developments - SEC Chair Paul Atkins indicated that including private markets in 401(k) plans would benefit investors "within reason" and mentioned upcoming roundtables to enhance retail investor access to private markets [2][3] - The discussion is influenced by President Trump's August executive order aimed at increasing access to alternative assets in 401(k) plans, requesting collaboration between the DOL and SEC [3][4] - The DOL previously rescinded guidance that discouraged the use of cryptocurrencies in 401(k)s, reflecting a shift in regulatory stance towards alternative investments [4] Group 2: Market Perspectives - Supporters argue that retirement savers are currently missing out on private market opportunities, contrasting with traditional defined benefit plans that include private assets [5] - Critics express concerns about the risks associated with expanding private markets to retirement savings, highlighting the complexity of finance and its implications for ordinary savers [5]