Posts tagged investments
Plan Sponsors Get Go-Ahead on Alternatives as DOL Shifts Stance
August 22, 2025 // For plan sponsors, this regulatory shift provides much-needed clarity and removes a significant deterrent that had been hanging over alternative investment discussions. The DOL has essentially returned to a neutral, principles-based approach that allows fiduciaries to evaluate all investment options based on their merits rather than facing special scrutiny for considering alternatives.
Exclusive-UAW investment blunder cost the union an estimated $80 million, documents show
June 24, 2025 // The board voted to liquidate about $340 million in stock investments in August 2023 to pay strike costs, according to a union document reviewed by Reuters. The wording of the vote stipulated that the money be reinvested according to union policy after the strike ended and the labor contracts were ratified, though it didn't specify how quickly. But almost none of its portfolio was invested in stocks during the year after the strike began in September 2023, according to the records reviewed by Reuters. The news agency was unable to establish why the stock investment wasn't made. The issue of why the union did not reinvest the funds for more than a year is now being investigated by the federal monitor which was appointed as part of a 2020 settlement between the UAW and the U.S. Department of Justice to resolve a union corruption scandal, according to a statement from a majority of UAW board members.
EXCLUSIVE: Bill Cassidy To Introduce Bill To Stop Left-Wing Investing From Taking Over Retirement Funds
September 27, 2024 // “Asset managers should prioritize helping Americans achieve the best return for their retirement, not funneling their clients’ money to fund a left-wing political ideology,” Cassidy, who serves as the ranking member of the Senate Health, Education, Labor and Pension Committee, said. “This legislation protects 152 million Americans who depend on a strong retirement to live after their career is over.” Under current Department of Labor rules, administrators of employee retirement plans are allowed to consider ESG factors when choosing between investment opportunities they have determined to be of equivalent quality. If a retirement fund determines multiple investment options are of equal value under Cassidy’s bill, it must document how it made that determination and then choose at random between the options.
InfluenceWatch Podcast #314: ESG’s Labor Angle
April 29, 2024 // I’m fond of saying—it’s in my Twitter bio—that “there’s always a labor angle.” From bad MLB umpiring to anti-anti-Hamas demonstrations, Big Labor is there. So I am the least surprised person to discover that the left-wing environmental, social, and corporate governance (ESG) activist investing movement is backstopped in part by and operates in service of Big Labor and its Everything Leftist agenda. Joining me and my colleague Robert Stilson, who studies the ESG movement for Capital Research Center, is Vinnie Vernuccio of the Institute for the American Worker.