The Briefing Room
General Category => National/Breaking News => Topic started by: Elderberry on February 22, 2023, 12:38:58 pm
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WND 2/21/2023
New rule lets money managers factor in 'climate change and racial justice'
Joe Biden is being sued for his scheming to inject politics into retirement accounts – the savings millions of Americans have set aside for their own senior years.
The Wisconsin Institute for Law & Liberty, has confirmed it has filed a legal action on behalf of retirement account participants Rick Braun and Fred Luehrs against the government over a new rule created by the Biden administration.
That would let those managing retirement accounts to use "environmental, social, and governance" factors in their management of others' money.
It was filed in federal court in Wisconsin.
"Imposing ESG factors not only violates the Employment Retirement Income Security Act of 1974 (ERISA), which governs the operation of retirement plans and protects the hard-earned savings of millions of employees from mismanagement and abuse, but undermines the authority of Congress," WILL explained.
More: https://www.wnd.com/2023/02/biden-sued-injecting-woke-politics-retirement-accounts/ (https://www.wnd.com/2023/02/biden-sued-injecting-woke-politics-retirement-accounts/)
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This also violates the fiduciary responsibility of investors.