Congress’ 401(k) Tweaks Insulated Plans From Tariff Panic Trades

The Trump administration’s tariffs have triggered panic trading from almost all corners of Wall Street except for one: 401(k) account holders, thanks to new plan design options that Congress gifted employers.

Workplace retirement plan trading as of mid-April is on par with last year’s data, according to Vanguard, which administers plans for more than 5 million Americans. That’s a victory for proponents of a more resilient defined-contribution retirement market who say long-term growth strategies bear out better outcomes for patient investors, especially in tax-advantaged savings vehicles designed for methodical growth.

When Congress added default options to plans and prodded employers ...