1210-AC38 comment 3549 American Federation of State, County and Municipal Employees (AFSCME) 06012026

Summary: The American Federation of State, County and Municipal Employees (AFSCME) opposes the proposed rule, arguing that it prioritizes procedural "check-the-box" safe harbors over substantive fiduciary prudence. They contend that the rule encourages high-risk, high-cost alternative assets (like private equity and cryptocurrency) into 401(k) plans, which could undermine the retirement security of workers.