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.

Most Popular

The Pollster Who Thinks Trump Is Ahead

The polling aggregator on the website RealClearPolitics shows the margin in polls led by Joe Biden in a blue font and the ones led by Donald Trump in red. For a while, the battleground states have tended to be uniformly blue, except for polls conducted by the Trafalgar Group. If you are a firm believer only in ... Read More

The Pollster Who Thinks Trump Is Ahead

The polling aggregator on the website RealClearPolitics shows the margin in polls led by Joe Biden in a blue font and the ones led by Donald Trump in red. For a while, the battleground states have tended to be uniformly blue, except for polls conducted by the Trafalgar Group. If you are a firm believer only in ... Read More

Biden Can’t Tax the Rich

Joe Biden’s tax plan is based on a deathless myth: that taxes are actually paid in economic terms by those upon whom they legally fall. The obviousness of this nonsense is clear enough if you put the proposition into plain English: “Don’t you worry, now, we’re not going to raise taxes on you, Bubba — ... Read More

Biden Can’t Tax the Rich

Joe Biden’s tax plan is based on a deathless myth: that taxes are actually paid in economic terms by those upon whom they legally fall. The obviousness of this nonsense is clear enough if you put the proposition into plain English: “Don’t you worry, now, we’re not going to raise taxes on you, Bubba — ... Read More
Media

The Media’s Shameful Hunter Biden Abdication

In an interview with National Public Radio’s public editor today, Terence Samuel, managing editor for news, explained why readers haven’t seen any stories about the New York Post’s Hunter Biden email scoop. “We don’t want to waste our time on stories that are not really stories, and we don’t want ... Read More
Media

The Media’s Shameful Hunter Biden Abdication

In an interview with National Public Radio’s public editor today, Terence Samuel, managing editor for news, explained why readers haven’t seen any stories about the New York Post’s Hunter Biden email scoop. “We don’t want to waste our time on stories that are not really stories, and we don’t want ... Read More