AFREF joined the Save Our Retirement Coalition on a letter calling on the Department of Labor to expeditiously update and strengthen the rules governing retirement investment advice to help protect workers and retirees from harmful conflicts of interest.
News Release: AFREF and Partners Submit Comments On Labor Department Proposal to Allow Retirement Plans To Consider Sustainability, Jobs, Equity, Workers
Americans for Financial Reform Education Fund (AFREF) submitted comments to the Labor Department supporting a proposed rule that will allow and encourage private retirement plans and pensions to consider sustainability factors like climate change, workers’ rights, racial, economic and environmental justice, and corporate governance when investing and voting proxies.
Letters to Regulators: AFREF, Sierra Club and 13 Partners Support DOL Sustainable Investing Proposal, Urge Further Action
Americans for Financial Reform Education Fund and Sierra Club were joined by 13 organizations in a comment letter to the DOL supporting a proposal to encourage fiduciaries to consider climate change and ESG factors, and calling for further actions to standardize sustainable investing for private retirement plans and pensions.
News Release: Labor Department: Retirement Plans and Pensions Right To Consider Sustainability, Jobs, Equity, Workers
Americans for Financial Reform Education Fund (AFREF) applauds the Labor Department for issuing this proposal to better allow and encourage retirement plans and pensions to consider sustainability factors like workers’ rights, racial justice, corporate governance, and climate change when investing.
Letter to the Regulators: letter from 26 organizations to the Department of Labor urging reconsideration of guidance allowing retirement plans to invest in Private Equity
26 organizations, led by the Consumer Federation of America urge reconsideration of the DOL policy allowing defined contribution plans to invest in private equity funds. Issues raised to the DOL over its original letter considering allowing such funds into private equity include: It fails to give
President Biden today issued an executive order that outlines the administration’s plan to manage the financial risks associated with the climate crisis. The order highlights the administration’s determination to use all the resources of the federal government to combat the threat that climate change poses to financial stability.
In a significant reversal, the Department of Labor (DOL) today announced they will not enforce the anti-sustainable investing rules that were hastily published in the final days of the Trump administration. The two rules, which went into effect in January 2021, would have made it much harder for retirement plans to integrate environmental, social and governance (ESG) risks into their investment practices.
The Department of Labor today dealt another blow to sustainable investing with a new rule aimed at private retirement plan fiduciaries. Incoming leadership at DOL must quickly reverse course on this rule and facilitate, rather than hinder, responsible retirement investing.
NEWS RELEASE: Labor Dept.’s ESG Proposal Will Cause Confusion Among Fiduciaries, Losses for Retirement Savers
The Proposal will impose new costs on beneficiaries, undermine American’s retirement security, and impede investment decisions that would lead to a more sustainable economy and society.
The regulators must act on the same principles in approaching fiduciary rulemakings; anything less leaves investors vulnerable to losing billions of dollars a year to ‘advisors’ who pitch investments that produce greater returns for themselves, but leave the clients earning less.