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DOL seeks to roll back protections against ESG

DECEMBER 17, 2021 | by Thomas Savidge | AMERICAN LEGISLATIVE EXCHANGE COUNCIL

By Thomas Savidge, includes “… These problems have plagued the California Public Employees’ Retirement System … and the California State Teachers’ Retirement System … for the past two decades, leaving millions of dollars in foregone investments on the table because the funds chose to divest from funds such as firearms, tobacco and fossil fuels.  …  If finalized, the rule would allow pension plan managers to put personal political crusades over the needs of retirees.” (Note: In states where public pension defined benefits are legally protected, who else is on the end of the stick?) 

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