Biden uses first veto on bill blocking ESG investing for retirement funds
Pres. Biden rejected legislation that would have blocked the new DOL rule allowing retirement portfolio managers to weigh climate change and other environmental issues in their investment decisions,
Holding pattern: Employees don’t expect to make any changes to their 401(k)s in 2023
Around 70% of financial advisors and plan sponsors agree, saying participants will make little to no change to their 401(k) contributions, in a new ‘State of the industry” report.
DOL’s ESG investing rule challenge alive, despite Biden veto
From an attempt to override the veto to a legal challenge by Republican state attorneys general in 25 states, the political issues surrounding Labor’s ESG rule will continue to swirl for the foreseeable future.
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