A new bill introduced in the Senate and House by Democratic lawmakers last week would give federal employees and retirees the ability to invest their retirement dollars in socially responsible companies.
The Federal Employees Responsible Investment Act, sponsored by Rep. Jim Langevin, D-R.I., and Sen. Sheldon Whitehouse, D-R.I., would require the administrators of the federal Thrift Savings Plan to create a Corporate Responsibility Stock Index Fund for participants in the plan.
Congress found that 84 percent of mutual fund investors would more likely invest in a fund if one of its principles was to invest in companies that engage in ethical business practices in terms of operations and reporting. Seventy-one percent of investors agree that companies that operate with higher levels of integrity carry less investment risk, and 67 percent of investors believe that these companies deliver better investment returns.
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