Private equity investments are too risky and opaque for an expanded role in Americans’ retirement plans as the Trump administration has proposed, Democratic senators said in a committee hearing Wednesday.
Sens. Angela Alsobrooks (D-Md.) and Edward Markey (D-Mass.) questioned President Donald Trump’s Aug. 7 executive order aiming to make it easier for employers to incorporate alternative investments such as private equity and cryptocurrency in retirement plans’ offerings.
“It is absolute lunacy,” Markey said at the Senate Health, Education, Labor, and Pensions Committee hearing on the future of retirement. “We know private equity firms value profit over everything else, leaving workers ...
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