Financial services trade groups, including the Investment Company Institute and the Financial Services Institute, sent a joint letter to the Securities and Exchange Commission Tuesday asking the agency to not pursue its proposed changes to money-market funds, saying they would jeopardize Americans’ retirement savings.

The groups told the SEC that they represent the interests of a “significant and broad part of the retirement plan community, including employers and service providers.” Together, the group said, the proposals under consideration, “taken alone or in tandem, would fundamentally alter the structure of money-market funds, rendering them far less desirable—if not unusable—for retirement savers and the plans they participate in.”

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.