The amendment applies to the so-called 401(k) plans, which are a pension account that employees have through their employers. According to Bloomberg, there are over 12,000 billion dollars (115 billion kronor) to manage in the pension accounts.
The initiative aims to increase the options for pension savers. Critics mean that it entails greater risks and potentially higher fees.
Corrected: In an earlier version of the text, an incorrect amount was stated on the pension accounts.
