Neal Requests GAO Report on Private Credit in Retirement Plans

WASHINGTON, DC- As alternative investment vehicles become more readily available, Ways and Means Committee Ranking Member Richard E. Neal (D-MA) requested the Government Accountability Office (GAO) review the impact that investing in private credit has on retirement plans. While the Administration rolls more regulations back on investments historically associated with wealthier investors, Neal is fighting to ensure American workers' best interests are at front of mind, not Wall Street's pockets.

"Because private credit operates outside of the relatively strict and transparent regulation of public credit and banking regulations, we have concerns about the reliability of valuations for these assets and the exposure of plan participants' retirement savings to an unknown level of risk, Ranking Member Neal wrote to GAO. "Given the significant responsibility that plans and plan participants face in selecting investment options to grow and safeguard their retirement savings, and the known and unknown risks of investing in private credit, we would like GAO to answer the following questions."

Ranking Member Neal has been out front in the fight to protect retirement savings. In 2024, GAO released a similar report requested by Neal that analyzed the impact of cryptocurrency in 401(K) plans.

Read the request to GAO HERE.

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