Bonta Joins Coalition Against Risky Retirement Rule

California Attorney General Rob Bonta has joined a coalition of 23 attorneys general to oppose a Trump Administration proposal that would allow riskier investments in retirement plans. - The proposed rule could expose $178 billion from 4.5 million workers to volatile assets like cryptocurrency.

- The coalition argues it would shift financial risk from fiduciaries to workers, potentially leading to catastrophic losses. - The rule would create a loophole preventing courts from reviewing fiduciary decisions.

- Loss of retirement savings could force seniors to work longer and rely on public assistance. The coalition urges the administration to withdraw the rule and protect retirement savings.