The $23bn San Francisco Employees’ Retirement System is facing mounting pressure to unload its roughly $470m worth of investments in the fossil fuel industry, which would make it the first major pension fund in the nation to do so, San Francisco Chronicle reported. It’s the second time since 2013 that city lawmakers have asked the governing board of the plan to reconsider fossil fuel companies.
Texas Republican Rep. Kevin Brady will seek tax relief for hurricane victims. His plan includes allowing participants in 401(k) plans to access their savings penalty-free. CNBC has the story.
Sen. Elizabeth Warren won’t stand down in her push to get the Department of Labor’s fiduciary rule implemented, 401k Specialist argues.
The Investment Company Institute has promoted Sean Collins to chief economist effective January 1, Reuters reported. Collins will report to the Washington-based group’s president and chief executive, Paul Schott Stevens.