Washington, D.C. — Following news that President Trump will sign an executive order today that will allow private equity, real estate, cryptocurrency and other alternative assets in 401(k)s — following an intense lobbying effort from industry interests — the American Economic Liberties Project released the following statement. 

“Stuffing private equity, crypto, and other ‘alternative assets’ into 401(k)s is about propping up scams and bailing out an industry that’s run out of buyers — and it’s being done at the expense of Americans’ retirements everywhere,” said Helaine Olen, Managing Editor at the American Economic Liberties Project and longtime personal finance columnist. “There’s a reason most employers didn’t bite when Trump tried this the first time and why the private investments industry has put on such a thick lobbying campaign. These funds are high-fee, risky, and opaque. Private equity consistently underperforms the S&P 500. This is a windfall for billionaire fund managers and a disaster in the making for regular Americans trying to save for retirement.”

Read Olen’s recent piece in MSNBC for more. 

Learn more about Economic Liberties here.

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The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.