Biden vetoes ESG proposal overturn

If your Department of Labor (DOL) proposes a rule, as President, you’re not likely to throw them under the bus and overrule them.

In a move that surprised no one, President Joe Biden used his first veto to preserve a recent DOL rule about investment choice in 401(k) and other workplace retirement plans.

The Biden administration rule paved the way to overturn the previous rule that barred employers from selecting environmental, social, and governance (ESG) funds for their company 401(k) plans, experts said.

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