1210-AC38 petition 0001 Owen, Carol

Fiduciary Duties in Selecting Designated Investment Alternatives Employee Benefits Security Administration 29 CFR Part 2550 RIN 1210-AC38,I strongly oppose the Department of Labor’s proposed changes to fiduciary duties in selecting designated investment alternatives.This proposal would allow private equity and cryptocurrency investments to enter retirement plans such as 401(k)s, exposing workers’ retirement savings to expensive fees and dangerous levels of risk.Private equity funds are characterized by high fees, lack of transparency, and illiquidity. These investments rely on aggressive financial engineering that often results in job losses, bankruptcies, and long-term economic harm. Their structure makes it difficult for even sophisticated investors to accurately assess risk and performance. They are fundamentally incompatible with the needs of retirement savers who require stability, transparency, and long-term growth.Cryptocurrency markets present a different but equally serious set of risks. Extreme volatility, lack of consistent regulation, and repeated market failures have demonstrated that crypto assets are not appropriate for retirement portfolios. Workers saving for retirement should not be exposed to speculative assets that can lose significant value in short periods of time.Retirement plans are intended to provide security after decades of work. This proposal undermines that purpose by weakening fiduciary standards and opening the door to investments that prioritize profit extraction over long-term stability.I urge the Department of Labor to reject this proposal and maintain strong protections that ensure retirement investments remain prudent, transparent, and aligned with the financial security of workers.Sincerely,Carol Owencarol.owen@benfranklinplumbing.com1601 Oxford CourtColumbia, Tennessee 38401