This Lawmaker Wants to Bring ESG Stocks to Your Retirement Account
The ESG saga of 2020 continues. In late October, President Trump's Department of Labor passed a hotly contested rule that essentially prevents 401(k)s from offering ESG investments to plan participants.
More recently, Rep. Andy Levin (D-Mich.) announced that he's drafting two bills that take the opposite stance. Levin's legislation, if passed, would require 401(k) plan administrators to adopt and publish an ESG investment policy, which means ESG funds could soon be an option in your retirement plan after all.
Levin's bills, called the Sustainable Investment Policies Act and the Retirees Sustainable Investment Policies Act, aren't slam dunks, even with a Democratic president-elect waiting in the wings. Levin doesn't currently have the bipartisan support needed to pass his legislation this year. He has said he will put the bills before Congress again next year if necessary. His odds of success probably hinge on which party ends up in control of the Senate after the two runoff elections in Georgia.
Source Fool.com
