Biden Puts Your 401(k) to ESG Work

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The Biden regulatory machine doesn’t rest, even in Thanksgiving week. On Tuesday the Labor Department finalized a rule that empowers retirement plan sponsors to invest based on environmental, social and governance (ESG) factors and put your 401(k) to progressive political work.

The Labor Department casts its rule as a mere clarification of the 1974 Employee Retirement Income Security Act (Erisa), which requires that retirement plan sponsors act “solely in the interest” of participants and beneficiaries. A Trump Labor rule barred retirement managers from considering factors that weren’t material to financial performance and risk.

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.css-169xary-AuthorLink{color:var(--interactive-text-color);font-style:var(--font-style-italic);font-style:var(--font-style-normal);}.css-169xary-AuthorLink:hover{-webkit-text-decoration:none;text-decoration:none;} The Editorial Board .css-gmqp3n-FollowButton{display:inline;margin:0 8px;}.css-gmqp3n-FollowButton ufc-follow-author-widget:not(.hydrated){display:inline-block;width:60px;} print. Listen to article. (2 minutes) The Biden regulatory machine doesn’t rest, even in Thanksgiving week. On Tuesday the Labor Department finalized a rule that empowers retirement plan sponsors to invest based on environmental, social and governance (ESG) factors and put your 401(k) to progressive political work. The Labor Department casts its rule as a mere clarification of the 1974 Employee Retirement Income Security Act (Erisa), which requires that retirement plan sponsors act “solely in the interest” of participants and beneficiaries. A Trump Labor rule barred retirement managers from considering factors that weren’t material to financial performance and risk. Continue reading your article with a WSJ membership. Already a member? .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;} Sign In. Walmart : Walmart coupon: $20 off your $50+ order. Walmart : Expedia : Extra 8% off hotels - Expedia Coupon. Expedia : SHEIN : SHEIN Black Friday coupon code - 30% off. SHEIN : DoorDash : 25% off $15+ orders + free delivery with DoorDash promo code. DoorDash : Wayfair : Wayfair promo code for Black Friday: 25% off $150. Wayfair : Target : Target Promo Code: $10 off your online purchase. Target :