By HatetheSwamp January 28, 2023 4:02 am Category: President (0.0 from 0 votes) Rules of the Post Write A New Article How To Post Here Rate this (5=best, 0=poor)

The lawsuit — led by Utah Attorney General Sean Reyes and joined by 24 other states including Louisiana, Texas and Virginia — challenges a Department of Labor (DOL) rule unveiled in November and which is set to go into effect on Jan. 30.

"The Biden administration is promoting its climate change agenda by putting everyday people’s retirement money at risk," Reyes told FOX Business in a statement. "Americans are already suffering from the current economic downturn."

"Permitting asset managers to direct hard-working Americans’ money to ESG investments puts trillions of dollars of retirement savings at risk in exchange for someone else’s political agenda," he continued. "We are acting with urgency on this case because this illegal rule is set to take effect next week. It must be stopped."

In the lawsuit, the states allege that the DOL violated the Employee Retirement Income Security Act (ERISA) of 1974. The law safeguards the retirement income of 152 million U.S. workers, equivalent to more than two-thirds of the nation's adult population, and covers roughly $12 trillion in assets.

"This rule is an affront to every American concerned about their retirement account," Texas Attorney General Ken Paxton said in a statement to FOX Business. "The fact that the Biden Administration is now opting to risk the financial security of working-class Americans to advance a woke political agenda is insulting and illegal."


The Department of Labor didn't immediately respond to a request for comment.

Now there's a surprise.

JOE BIDEN IS BIG BROTHER

Comments Start Below

by oldedude on January 28, 2023 4:36 am As this got closer, I liquidated my stock assets. I paid 20% tax before. Now the "tax" on this is 40+%. That would have not worth having any retirement "savings" at all. We are both getting paid by governments for retirement. So as long as the government is stable, we can exist. We figured that if the government falls, money is useless anyway. We're also resisting the demand we use the government's crypto currency. If we're forced to use it, we'll go to a cash gray market for everything but the house payment. This is the same gray market economy they use in Russia and China. Most transactions done by individuals are done in a cash-barter system, negating the government oversight. Lead, on another note. Are ya'll still out and about? How's your health, as well as your wife? My former work wife bought land in the carolina's. She retires in fall, so they're moving down from the beltway. by HatetheSwamp on January 28, 2023 4:53 am OD, We're in Myrtle Beach through March. Evie found us a condo on the beach at a decent price. An awesome location. The unit's spacious but dated. Myrtle Beach is a bit north to get really nice weather but, in the sun, the weather's pleasant. Evie's having some complications from surgery she had in 020. She has an appointment with a new surgeon as soon as we return home. My back's still a mess. I do pt exercises about 45 minutes a day. They keep the pain controlled. I'm going to ask my GP for a referral for an MRI and whatever else is appropriate when I get home. The aneurysm? Who knows? You...and yours? by oldedude on January 28, 2023 5:15 am It's hell to get old, isn't it? I was doing great. Then my insurance didn't like my Rx, so we're trying to figure that out. VA is little help, but I'm going to start working on a percentage rating which may take another 3-5 years. Otherwise, I'm grateful for every day. We'll have two new baby girls this to next month. One is here in FL, so we'll be a big part of her life. Judging from the 2 year old, her dad and I both have shotguns ready for the boys that are going to be swarming as she gets older. The other in CO. So that is wonderful. Again, being grateful is a wonderful thing. Keep me up on you two. Go To Top

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