The following content is sponsored by the Council for a Safe & Secure Retirement.
For too long, America’s retirement system has worked for the few, not the many.
Wall Street insiders, wealthy elites, and big public pension funds have built wealth via the private markets – private equity, private credit, and real estate. Meanwhile, hardworking Americans are told to stay in their lane. If you work a regular job and save through a 401(k), you are effectively shut out from greater choice and investment access for your well-earned money.
That’s not an accident. Elites – like Sen. Elizabeth Warren (D-MA) – don’t want this change because it erodes their interests and your opportunity for wealth creation.
Once again, President Trump is blowing up the status quo, giving American workers the fair shot they deserve.
President Trump’s message is simple: your money, your choice. Last summer, Trump issued an Executive Order to open private market investments to American retirement savers. The administration made it clear that the same wealth-building tools used by the rich and well-connected should be fair game for all Americans.
Now, the Department of Labor (DOL) is taking steps to make President Trump’s promise a reality.
The DOL is preparing formal rules that will make it easier for working Americans to have more choices when it comes to their retirement savings. To do this, the rules will state that employers can safely offer private market options in 401(k) plans – without the fear of punitive lawsuits from ambulance-chasing trial lawyers.
That fear has been the left’s weapon of choice for decades. For the past 20 years, the left has sided with trial lawyers who have filed one copycat lawsuit after another to scare employers away from giving their employees better investment choices for retirement. The goal was never to protect workers – it was to lock them out and fearmonger.
Every day, American families successfully start businesses, buy homes, and invest in the stock market. Yet somehow, the left insists that a more diversified retirement portfolio is “too risky.” Here’s what it really comes down to: they’ll take any chance they can get to tell you what you should be doing with your hard-earned money.
But President Trump has been steadfast in his commitment to leveling the playing field and expanding choice: “My Administration will relieve the regulatory burdens and litigation risk that impede American workers’ retirement accounts from achieving the competitive returns and asset diversification necessary to secure a dignified, comfortable retirement.”
This change couldn’t come soon enough. While some Americans are still falling behind in retirement savings, the elites keep getting richer. The Trump administration wants to make sure that America’s workers and retirees are protected and that they can build wealth.
And Americans want this.
A recent national poll found that 65 percent of American voters strongly support the inclusion of private-market options in 401(k) retirement plans. That’s because Americans want more freedom and more opportunity.
At its core, this fight is about fairness. Giving you the flexibility and choice to invest as you see fit, so you can secure the financial future you want.
President Trump promised he would put the American people and their economic prosperity first. With this move, he’s delivering on yet another promise and finally making it easier for all Americans to achieve economic success.
COMMENTS
Please let us know if you're having issues with commenting.