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

Elections

Vote Your Conscience

At the 2016 Republican convention, Senator Ted Cruz spoke a controversial phrase: “vote your conscience.” I think about this phrase, this idea, fairly often. I’m not one to give advice on voting (or much else). But when asked for advice, I usually say, “Vote your conscience.” Sweet conscience! One of ... Read More
Elections

Vote Your Conscience

At the 2016 Republican convention, Senator Ted Cruz spoke a controversial phrase: “vote your conscience.” I think about this phrase, this idea, fairly often. I’m not one to give advice on voting (or much else). But when asked for advice, I usually say, “Vote your conscience.” Sweet conscience! One of ... Read More
Music

Stevie Nicks, Like Springsteen, Preaches and Preens

In the 1970s, Stevie Nicks and Bruce Springsteen made impressions on pop-music culture with romantic rock landmarks, Fleetwood Mac’s Rumours album and Springsteen’s Born to Run. But their new 2020 releases, Nicks’s single “Show Them the Way” and Springsteen’s Letter to You film and album, make the ... Read More
Music

Stevie Nicks, Like Springsteen, Preaches and Preens

In the 1970s, Stevie Nicks and Bruce Springsteen made impressions on pop-music culture with romantic rock landmarks, Fleetwood Mac’s Rumours album and Springsteen’s Born to Run. But their new 2020 releases, Nicks’s single “Show Them the Way” and Springsteen’s Letter to You film and album, make the ... Read More
Law & the Courts

The Kavanaugh Court

If Justice Barrett votes as her mentor Justice Scalia did, she will be part of an ascendant conservative majority on the Supreme Court. What kinds of decisions can we expect from this majority? Short answer: Ask Brett Kavanaugh. Contrary to how journalists frame each seat change on the Court, comparing the new ... Read More
Law & the Courts

The Kavanaugh Court

If Justice Barrett votes as her mentor Justice Scalia did, she will be part of an ascendant conservative majority on the Supreme Court. What kinds of decisions can we expect from this majority? Short answer: Ask Brett Kavanaugh. Contrary to how journalists frame each seat change on the Court, comparing the new ... Read More
Law & the Courts

Avoiding Judicial Armageddon

This month marks the 58th anniversary of the Cuban Missile Crisis, the geopolitical showdown between the United States and the Soviet Union that brought the world to the brink of nuclear annihilation. We are here today only because cooler heads prevailed in that conflict, leading to the Kennedy-Khrushchev Pact ... Read More
Law & the Courts

Avoiding Judicial Armageddon

This month marks the 58th anniversary of the Cuban Missile Crisis, the geopolitical showdown between the United States and the Soviet Union that brought the world to the brink of nuclear annihilation. We are here today only because cooler heads prevailed in that conflict, leading to the Kennedy-Khrushchev Pact ... Read More