SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA President and CEO, on an Executive Order signed by President Trump today related to expanding private market investment choices in retirement accounts:
“Helping Americans build savings for retirement is among the most important roles of the capital markets and SIFMA strongly supports policy efforts aimed at increasing retirement security for all. Today, U.S. workers increasingly rely on individually funded retirement plans, such as 401ks. As more U.S. companies choose to remain non-public, private markets have developed into a more robust asset class. Access to such investments, however, has been limited primarily to institutional and high net worth investors. Policy changes to expand access to private markets investments – appropriately tailored under ERISA and SEC rules – could serve to improve diversification, democratize access, and offer more investment choices to the benefit of everyday retirement savers. We applaud the Trump Administration for the focus on this important issue.”
