Labor Department, ESG, and Risks to Retirees

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Cato Institute

Immigration, News, News Commentary, Peace, 424708, Markets, Government, Libertarian, Policy, Politics, Cato, Defense

4.5 • 979 Ratings

🗓️ 13 December 2021

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

How the Department of Labor regulates pension funds and other retirement plans holds big implications for retirees, so how do so-called ESG (environmental, social, and governance) preferences change things? Jennifer Schulp comments.

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Transcript

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0:39.2	This is the Cato Daily Podcast for Monday, December 13th, 2021.
0:44.4	I'm Caleb Brown.
0:45.4	When a federal regulator tells you that your stock might not be welcome as a component of pension
0:50.6	funds, that is, unless you start abiding by the preferences of regulators in documenting
0:56.3	your plans to fight on behalf of certain environmental and social goals.
1:01.3	How might that change your behavior? How might that alter the incentives of your
1:04.4	management? Cato's Jennifer Schullb offers her take. Along what dimensions do
1:09.5	financial regulators regulate pension funds or other like investment or retirement vehicles.
1:16.5	Sure the primary method by which I would say the Department of Labor regulates pension funds is according to ERISA, which is the
1:29.8	Employee Retirement Security Act, which is the general pension retirement statute that
1:39.0	tells pension plans, 401k plan sponsors, etc.
	...

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