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The Department of Labor has proposed rule changes to make it easier to access ESG funds in retirement plans, reversing a Trump administration policy.
It would allow retirement plan participants and IRA holders to take money out of their accounts tax-free.
The bill would encourage retirement plan participation by giving people penalty-free access to funds in the event of an emergency.
Democrats seek to expand ESG strategies in retirement plans Keith Lewis © Provided by Roll Call Tina Smith has offered legislation permitting investors to put ESG into investment decisions. Investment strategies that consider environmental, social and governance factors may soon find their way into employer-sponsored retirement plans, expanding access to millions of Americans whose only stake in the market is through a 401(k) or similar account. Senate Democrats this month introduced legislation that would amend a 1974 law known as the Employee Retirement Income Security A...
Senators Introduce Bipartisan Bill to Increase Retirement Plan Participation The Improving Access to Retirement Savings Act is intended to open MEPs to 403(b) plans and more small businesses. Three US senators have introduced legislation they say would make improvements to existing laws to help more organizations and small businesses participate in retirement plans, including multiple employer plans (MEPs) and pooled employer plans (PEPs). Sens. Chuck Grassley, R-Iowa; Maggie Hassan, D-New Hampshire; and James Lankford, R-Oklahoma, say the Improving Access to Retirement Savings Act would buil...