A new bill introduced in the Senate and House by Democratic lawmakers last week would give federal employees and retirees the ability to invest their retirement dollars in socially responsible companies.
The Federal Employees Responsible Investment Act, sponsored by Rep. Jim Langevin, D-R.I., and Sen. Sheldon Whitehouse, D-R.I., would require the administrators of the federal Thrift Savings Plan to create a Corporate Responsibility Stock Index Fund for participants in the plan.
Congress found that 84 percent of mutual fund investors would more likely invest in a fund if one of its principles was to invest in companies that engage in ethical business practices in terms of operations and reporting. Seventy-one percent of investors agree that companies that operate with higher levels of integrity carry less investment risk, and 67 percent of investors believe that these companies deliver better investment returns.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
