Better Markets, the Consumer Federation of America and other allies expressed “grave concerns” about the Department of Labor’s recent decision to clear the way for private equity firms to access the multi-trillion-dollar retirement plan market. 

In a letter to the DOL, the groups wrote that, “Far from providing the benefits touted without any supporting evidence by the private equity industry, these investments are likely to saddle middle-class retirement savers with high costs and lock them into unnecessarily complex investments that underperform publicly available alternatives.” 

Read the group’s complete letter and press release.