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U.S. House resolution bans ESG guidance in retirement plans, moves to Senate

Posted On: Mar. 1, 2023 10:12 AM CST

The U.S. House of Representatives approved a resolution to overturn a Department of Labor rule passed in November allowing for, but not mandating, environmental, social, and governance investing in retirement plans, reports Plansponsor. Rep. Andy Barr, R-Ky., offered the resolution amid calls by both Republican House and Senate members in recent months for a repeal of the DOL guidance, saying it would harm everyday retirement savers.