Biden Puts Americans’ Retirement At Risk
We need a new president NOW!
In an exclusive from Fox News, it has been discovered that Attorneys general and treasurers are urging President Biden to drop his newly proposed regulation that will force retirement investment managers to prioritize climate change while they manage American workers retirement portfolios.
Fox further explained that the Department of Labor’s Employee Benefits Security Administration submitted a new rule that “would irrationally require fiduciaries to elevate immaterial and speculative risks in employee retirement savings investment decisions,” several attorney generals wrote in a statement to Biden.
The letter further explained, “Singling-out climate-related risk is unjustifiable. Climate-related eventualities do not pose greater risk than, for example, technological disruption, economic downturns, domestic political changes, foreign conflicts, civic unrest, changing consumer tastes, non-climatic natural disasters, and public health crises such as the one ravaging the globe today.”
The letter added, “Fiduciaries should not be encouraged to consider or be protected from legal action for elevating immaterial or speculative risks when investing or offering investment options for employee retirement savings. At the very least, the Department should recognize in any proposed rulemaking that a plan fiduciary should not be required to treat climate-related risk differently than any other sort of risk.”
