PERSPECTIVE3-5 min to read

Three things to keep an eye on under a Biden presidency

Joseph R. Biden was sworn in on January 20, 2021, and as the 46th President he has promised a swift, “transformational” agenda. This paper outlines the three things we will be keeping an eye on – key cabinet players, policy review, and 401(k) review – coming out of (Washington) DC, impacting the DC market.



Deb Boyden
Head of US Defined Contribution

On his first day in office the President issued a directive freezing ”any new or pending rules” put in motion by former President Trump to give his administration time to evaluate which ones it wants to move forward. He is specifically concerned with regulations “harmful to public health, damaging to the environment, unsupported by the best available science, or otherwise not in the national interest,” and we have already seen the administration’s announcement that it will not enforce several of the Department of Labor’s (DOL) rules. In addition, it is widely anticipated individual and corporate taxes will be going up, and in our view, nothing is off the table, including the tax-deductibility of 401(k) contributions.

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The views and opinions contained herein are those of Schroders’ investment teams and/or Economics Group, and do not necessarily represent Schroder Investment Management North America Inc.’s house views. These views are subject to change. This information is intended to be for information purposes only and it is not intended as promotional material in any respect.


Deb Boyden
Head of US Defined Contribution


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