NEW | Lawsuit Aims to Stop the Politicization of Retirement Incomes
WILL filed a lawsuit on behalf of retirement account participants, Rick Braun and Fred Luehrs, against the U.S. Secretary of Labor for a new rule permitting the use of environmental, social, and governance (commonly referred to as “ESG”) factors in retirement investing.
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 Associate Counsel, Kate Spitz, stated, “By injecting highly partisan issues—like climate change and racial justice—into investment strategy, the Biden Administration is jeopardizing the retirement income of over 140 million Americans. Their new rule far exceeds the law and their constitutional authority.”
WILL has recently joined more than 100 organizations and officials in signing a coalition letter to Congress, opposing the 401(k) rule and supporting the congressional effort to overturn it.
Please support WILL’s 7th lawsuit against the Biden Administration here. This case was covered on The Vicki McKenna Show, in The Center Square and The Wisconsin Daily Star.
|