Chloe Rogers at People’s World reports your retirement savings are supposed to be the safest money you’ll ever have - not a roll of the dice. The whole point of a 401k and other retirement plans is to let you gradually build wealth that brings economic security in your Golden Years - but private equity firms are itching to lure retirement savers into Wall Street’s casino. Anyone who wants a secure retirement should recall what Las Vegas tourists inevitably learn: The house always wins. Private equity is a business model built on raising money from big, sophisticated institutional investors like pension funds, endowments and insurance companies - then buying companies to flip them for profit. It works out well for Wall Street executives who pocket enormous fees, but it often leaves companies and Workers in ruins. But now, the big investors these Wall Street firms once relied on are walking away after years of high fees, murky accounting and disappointing results. If the pros are stepping away, who’s left? Ordinary savers who hold $12.4 trillion in retirement accounts. Private Equity Firms want to bring the Workers holding this cash to the table, where the game is stacked against them. And the Trump Administration is helping them, pressuring the U.S. Department of Labor and the Securities and Exchange Commission, the very agencies meant to safeguard retirement savers, to open the door for Private Equity Firms to enter 401k plans. Private Equity Firms see you as easy prey. Your retirement account is a steady pot of money, and they’d love to siphon off fat fees while locking you into risky, opaque investments you can’t escape. They get rich whether you win or lose - and you get stuck with the bill.

To Continue Reading This Labor News Report, Go To: Wall Street and Trump want to gamble with your retirement savings – People's World

Wall Street Sign Photo Courtesy Of dollarsandsense.sg.