Updated

The Trump administration is advancing plans to open 401(k) retirement plans to private equity investments, even as data shows 54% of the biggest 2025 corporate bankruptcies involved PE-backed companies. Critics have raised concerns about exposing retirement savers to higher-risk, less liquid assets. The push forms part of a broader administration effort to expand access to alternative investments for everyday retirement savers, a move that has drawn scrutiny from consumer advocates and some lawmakers.