SEC Guidance on PEPs Will Help Small Businesses

Washington, DC; May 5, 2026—The Investment Company Institute (ICI) released the following statement regarding the Securities and Exchange Commission (SEC) Divisions of Investment Management and Corporation Finance’s staff statement on the treatment of pooled employer plans (PEPs) under federal securities laws.

“Under Chairman Atkins' leadership, the SEC has shown it is committed to helping American workers save and invest for their futures. We thank the staff of the Divisions of Investment Management and Corporation Finance for their work on behalf of retirement savers to provide access to a broader array of investment options.

“This relief eliminates a technical impediment to small businesses participating in pooled employer plans that use collective investment trusts. It will provide retirement plans a broader range of cost-effective investment options, ultimately helping savers to succeed. We applaud the SEC for their work to accomplish the bipartisan goals of the SECURE 2.0 Act and increase plan coverage among self-employed Americans and small businesses.”