Stop Private Equity from Gutting Retirement Accounts

Private equity is coming for Americans’ 401(k) accounts.

The Trump administration has opened the door for private equity firms to tap into everyday Americans’ retirement savings, pushing policies and regulatory changes that would funnel trillions of dollars from workers’ 401(k)s into high-risk, high-fee investments. Supporters call it “democratizing access.” But experts warn it’s a giveaway to some of the most opaque and predatory players in finance.

Congress and federal regulators still have the power to stop this before it becomes the new normal. Lawmakers can block these policies, restore strict fiduciary standards, and ensure retirement plans prioritize stability, transparency, and long-term growth—not short-term profits for private equity giants.

Private equity firms are notorious for loading companies with debt, slashing jobs, and extracting massive fees—often while leaving workers and communities worse off. Now they want a piece of Americans’ retirement savings. These investments come with complex fee structures, limited transparency, and long lock-up periods that make it harder for workers to access their own money when they need it.

Even worse, new federal guidance weakens the fiduciary safeguards meant to protect retirement savers. That means plan managers could steer workers into risky private equity funds without fully accounting for the dangers. When these bets go bad, it won’t be billionaires who pay the price—it will be teachers, nurses, and working families watching their retirement security disappear.

Tell the U.S. Department of Labor and Congress: "Protect our retirement savings. Stop private equity from infiltrating 401(k) plans and restore strong safeguards for workers’ futures."