Trump’s Pension Chief Pick Could Profit From Looser Rules
Donald Trump’s nominee to regulate retirement savings, Daniel Aronowitz, wants to protect employers and retirement fund managers from lawsuits alleging they fleeced retirees with exorbitant fees — a rule change his company could profit from.
President Donald Trump speaks in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025, in Washington, DC. (Andrew Harnik / Getty Images)
President Donald Trump’s pick to oversee Americans’ retirement savings wants to protect employers and retirement fund managers from lawsuits alleging they mismanaged workers’ savings and fleeced retirees with exorbitant fees — a regulatory rollback from which his company could profit.
Daniel Aronowitz, Trump’s Labor Department nominee to oversee the retirement and benefits accounts of more than 150 million Americans, is the president of an insurance company that provides liability coverage to employers and retirement fund managers at risk of being sued for squandering retirees’ savings.
Fewer lawsuits against Aronowitz’s customers means fewer payouts that his company would have to cover — even if that means less money for retirees.
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