Is Your Retirement at Risk?
Congress just passed a bipartisan bill to protect your retirement savings -- but Pres. Joe Biden is threatening to veto the bill when it arrives at his desk. Will you join us in urging the president to protect lifetime savings of hardworking people?
Despite the divide in Congress, lawmakers came together to pass a bill that overturns regulations implemented last fall at the Department of Labor that puts retirement savings at risk. The regulation relaxes rules governing how 401(k)s, pensions, and other retirement savings accounts are managed by financial institutions. For the first time, the manager of your retirement savings can invest your money in low performing assets based on climate change, as if we can’t protect the environment and people’s savings. The president’s veto could result in the average worker losing $1.5 million dollars in lifetime retirement earnings.
Until now, the people managing your money had a fiduciary responsibility to ensure you get the highest return. Congress is trying to ensure that you do. Unfortunately, Pres. Biden plans to veto that bill and, thereby, reduce your savings for retirement.
As a trade association that represents 200 companies involved in all aspects of environmentally responsible energy development, we know the Department of Labor’s regulation also puts funding for our nation’s energy economy at risk. The good news is our country can protect the climate and not put your personal savings at risk.
Will you join us in calling on Pres. Biden to protect your retirement and sign Congress’s bill into law?