Defending Pensions

(Vadym Petrochenko/Getty Images)
Comments on a proposed Labor Department rule change regarding ESG & ERISA

NRPLUS MEMBER ARTICLE T his summer, the Department of Labor proposed a rule that seeks to reaffirm the principle that pension plans’ main focus should be the financial well-being of retirees, and asked for comments from interested parties. As Labor Secretary Eugene Scalia put it in the Wall Street Journal: “The department’s proposed rule reminds plan providers that it is unlawful to sacrifice returns, or accept additional risk, through investments intended to promote a social or political end.”

The rule shifts the burden of proof onto pension trustees to show that “socially responsible” Environmental, Social, Governance (ESG) factors actually benefit retirees before pension assets can be put into them.

Here is my (lightly

Jerry Bowyer is the president of Bowyer Research and editor of Townhall Financial.

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