US EditionElizabeth Warren Pushes Back on Plan to Get Private Equity Into 401(k)s
UNITED STATES, JUL 12 – Sen. Warren challenges the risks of private equity in 401(k)s as Empower, managing plans for 90,000 employers, promotes private market access amid fewer public companies.
- On July 25, 2025, Senator Elizabeth Warren, the leading Democrat on the Senate committee overseeing banking, questioned Empower’s proposal to add private equity investments to 401 retirement plans.
- Warren sent questions probing Empower's recent decision amid concerns that private markets investing reduces access for everyday investors and carries structural risks.
- Empower, serving about 90,000 employers, likened expanding private equity options to the original 401 democratization of public market access despite fewer public companies today.
- Warren criticized the response for failing to adequately explain how plan participants and the broader financial system would be protected from the underlying dangers associated with private market investments.
- The pushback suggests a broader debate on whether risky and expensive private investments truly benefit retirees or mainly private fund operators.
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Elizabeth Warren pushes back on plan to get private equity into 401(k)s
A typical 401(k) plan only offers stock and bond funds that invest in publicly traded companies. But private companies — traditionally the domain of institutional and high-net-worth investors — have become a significant part of the overall investing market. Do they belong as an option in workplace retirement plans, given that they are often more expensive and less transparent than publicly traded securities?
·Atlanta, United States
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