Morningstar and Plan Administrators, Inc., a retirement plan administrator and recordkeeper, have announced the Morningstar ESG Pooled Employer Plan, which will select funds that limit exposure to material environmental, social, and governance (ESG) risks.
Morningstar Investment Management will serve as the ERISA §3(38) investment manager on PEP, while PAi Trust Co. will oversee the plan as the pooled plan provider.
Pooled employer plans are tough to grow and I don’t know if there is that much of an appetite with a PEP that is essentially a nice product since it’s focused on ESG investing, which will be based on the whims of whoever is sitting in the White House.
