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Ballotpedia
Ballotpedia
National
James McAllister

Biden administration seeks to dismiss lawsuit challenging ESG retirement plan rule

Joe Biden Lawsuit Department of Labor

The Biden administration on June 5 moved to dismiss a lawsuit brought against it by states challenging a Department of Labor rule on the use of ESG factors in investment-related decisions for retirement funds governed by the Employee Retirement Income Security Act of 1974 (ERISA). The states filed suit earlier this year, arguing that the new rule would put the retirement savings of millions of Americans at unnecessary risk.

Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG, click here. For more information on reform proposals related to ESG policy, click here.

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