A battle is brewing in the U.S. between state legislators, like Mark Mullet, and financial services providers over the tens of millions of private sector workers who don’t have access to a workplace saving plan.
During oral arguments on Tuesday, several members of the Supreme Court indicated that they may take plan participants’ side in the landmark Tibble v. Edison 401(k) case.
Blackstone has opposed a California Public Employees’ Retirement System (CalPERS) proposal prohibiting money managers from paying contingency fees to middlemen, who help obtain pension fund contracts.
