Letting Private Equity Billionaires Rob Worker Retirement Funds

A new Department of Labor rule allows private equity to get into 401(k) plans. One expert estimates a $13.7 billion annual wealth transfer from workers to Wall Street tycoons.


The American Prospect depends on reader support

If you are scraping by right now, please don’t give us anything. But if you have the ability to support independent, non-profit journalism, we are so grateful. Your voluntary contribution helps keep this website paywall-free. You can sign up as a subscriber with a range of benefits, including an opt-in to receive the print magazine by mail.

Click to View Subscriber Levels: IDEAS, POLITICS & POWER