The American Benefits Council told the Securities and Exchange Commission in a letter this week that it believes proposed changes to how money market funds are regulated will have a negative effect on work-sponsored retirement plans and workers' ability to prepare for retirement.
The council, which is a public policy organization that represents Fortune 500 companies and other organizations that assist employers of all sizes in providing benefits to employees, said that retirement plan sponsors use money market funds in many ways because they are valued for their stable net asset value and for their full liquidity.
Workers like money market funds because they are stable, diversified, not very volatile and a low-cost way to access commercial paper, government securities and other money market instruments.
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