Blacklisting financial firms can be expensive, as a number of states have discovered after penalizing those who don’t invest according to lawmakers’ political preferences. And while most of the attention has been on how those laws affect future and current retirees and individual taxpayers, those higher costs can weigh heavily on businesses and state economies….
State elected officials are relearning an old, old rule: If you divert and distract from an investor’s primary objectives, then the investments will surely suffer. The real-world results are pouring in. Laws blacklisting investment advisers and financial institutions accused of putting environmental, social, and governance (ESG) factors in front of financial considerations in public investments…
Workers whose employers offer defined contribution (DC) plans — and who stick with those plans — have a better chance at avoiding shortfalls in retirement savings, according to a report from Planadviser. People regularly and consistently saving money through such plans for at least 20 years were much less likely to come up short, according…
As Oklahoma waits for a state judge to decide whether its anti-ESG (environmental, social and governance) law violates that state’s constitution, a similar challenge to Texas’ laws is moving forward in federal court. Meanwhile, just this week, Missouri’s attorney general has dropped its appeal of a federal ruling that its’ anti-ESG law violates the U.S….
The Alliance for Prosperity and a Secure Retirement (APSR) is growing, and we’re happy to welcome 20 new members who have joined our coalition over the past several weeks. APSR is delighted to add to the ranks of groups representing state employees across the U.S. who depend on public pensions for their retirements. They are…
A stunning 90% of registered voters say there is currently a retirement savings crisis in America, according to a national survey conducted for BlackRock, a global investment, advisory, and risk management firm. Nationally, 84% of registered voters plan to retire, and think they’ll need $2.19 million in savings to accomplish that. A separate, but related,…
Concerns over a retirement crisis are once again being supported by research — this time, from asset management firm, BlackRock. Their study of registered voters found that “90 percent of respondents think there is currently a retirement savings crisis in America.” The top retirement concerns reported by respondents was their concern of not having enough…
A federal lawsuit challenging Texas’ anti-ESG (environmental, social, and governance) laws could be copied by plaintiffs in other states. That’s according to an attorney with Ropes & Gray who told Responsible Investor that “the same basic false premise” is baked into the investment boycott laws of several states. That federal litigation, filed by the American…
Almost half of U.S. households could fall short of what they need for retirement, according to a report from the Morningstar Center for Retirement and Policy Studies. It’s further evidence of what many experts have been calling a looming retirement crisis in America. The oldest members of Generation X — people born between 1965 and…
State legislators and regulators eager to steer investment advisers’ decisions involving environmental, social, and governance (ESG) factors in pensions and public finance are finding stiff resistance in state and federal courts. A state judge in Oklahoma is considering a final judgment against that state’s anti-ESG laws, having already put them on hold after finding those…
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