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Yo_Mama_Been_Loggin

(107,085 posts)
Fri Mar 12, 2021, 05:50 PM Mar 2021

Biden administration won't enforce Trump-era ESG rule for 401(k) plans

The Biden administration said Wednesday it won't enforce a rule issued by the Trump administration that makes it harder to offer environmental, social and governance — or ESG — funds in 401(k) plans.

ESG funds may, for example, invest in energy firms that aren't reliant on fossil fuels or in companies that promote racial and gender diversity. Investors poured a record $51 billion into ESG funds last year.

The Trump-era Labor Department rule, issued in 2020, doesn't explicitly call out or outright forbid ESG funds in 401(k) plans.

But it may stymie already lackluster uptake by changing requirements for employers to select them as 401(k) investments, according to experts.

-more-

https://www.msn.com/en-us/money/markets/biden-administration-won-t-enforce-trump-era-esg-rule-for-401-k-plans/ar-BB1escQs?ocid=DELLDHP

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Biden administration won't enforce Trump-era ESG rule for 401(k) plans (Original Post) Yo_Mama_Been_Loggin Mar 2021 OP
Lobby at work. mobeau69 Mar 2021 #1
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