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The Effects of Biden's Veto on Retirement Investments
Dana M. Muir via University of Michigan News 
[Opinion] Mar. 21, 2023 "The 2020 regulation departed from the historic requirement that plans must not compromise investment returns for purposes unrelated to providing plan benefits. Instead, it required plans to forgo financial-maximizing investments in order to comply with political hostility to ESG.... The Biden veto keeps in effect the 2022 regulation, which does not favor or disfavor ESG factors. Rather, it reinforces the traditional legal principle governing plan investments -- plans cannot prioritize anything other than retirement income and financial benefits under the plan." |
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