Social(k) Benefit Report

Progress in 2021 bringing ESG-rich retirement plans to 20 companies

The goal of Social(k) is to provide consulting, guidance and solutions for small organizations in regard to their ERISA plan. Specifically we work to provide Environmental Social and Governance, ESG, options to plan sponsors and participants. In 2021 we added 20 companies to those providing ESG options to employees through Social(k).

Rob Thomas, President, was appointed to the 401(k) Advisory Committee at As You Sow. The goal was to create a report card showing grades for investments in 401(k) plans of Fortune 500 companies. Specifically we looked at companies with a public statements of positive sustainable corporate behavior. We are able to show most plans of this size offer only traditional funds, mostly indexes with no ESG screens applied. As a result of highlighting the investment of billions of dollars into fossil fuels, private prison operators, polluters, slash and ban corporate farms and other public companies not working toward more responsible corporate behavior can be challenged by the participants.

One of the record keepers we work with, Retirement Plan Consultants, has finished and submitted, all documentation needed to become a certified B corporation by B Lab. This was done because of our relationship with this company.

We continued to work closely with Natixis and their ESG screened Target Date suite of funds for plans.

Susan Thomas
Benefits Director

Related posts:

https://socialk.com/blog/lets-not-leave-behind-the-s-g-in-esg/

https://socialk.com/blog/sustainable-investment-policies-act/

https://socialk.com/blog/the-largest-u-s-retirement-plan-will-offer-esg-funds-why-its-a-big-step-for-sustainable-investing/

https://socialk.com/blog/acting-on-esg-principles/

https://www.oursphere.org/news/the-sec-speaks-on-climate-change