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Multi-State 401K Lawsuit & Social Media Brain Toll | 2.1.23
Morning Wire
The New Department of Labor Rule Undermines Key Protections for Retirement Savers
In November, the Department of Labor announced a new rule that would specifically allow investment firms to consider climate change and those other ESG factors when they're selecting retirement investments. 25 states led by the attorneys general of Texas and Utah filed a lawsuit in a federal district court in Texas arguing that this rule undermines key protections for retirement savers. The Biden administration says weighing ESG impact like climate change is part of a sound financial decision-making process.
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