View or download a PDF of the letter here.
Fifty labor unions, investors, and public interest organizations wrote to House members in opposition to H.R. 2988, Protecting Prudent Investment of Retirement Savings Act. This bill’s amendments to the Employee Retirement Income Security Act (ERISA) would undermine workers’ retirement security by: 1) chilling fiduciaries’ consideration of a slew of important financial risks and opportunities, 2) undermining prudent investments that generate collateral benefits for beneficiaries in addition to financial returns, 3) silencing workers’ voices in the governance of the companies they’re invested in, and 4) stymying efforts to increase value by diversifying retirement plan service providers.