Biden wants your retirement savings to go woke. Here are 3 ways to protect yourself

The White House recently issued a new regulation that will allow investment fiduciaries, including 401(k) plan managers, to offer investment options that consider environmental, social, and governance (ESG) issues, such as climate change and social justice initiatives.

Until now, those managing many retirement accounts were required to prioritize the best return on investment possible.

By opening the door to left-wing investment plans, the Biden administration is permitting employers and private pension fund managers to effectively politicize retirement investments.

This will, by design, empower left-wing employers and fund managers to use retirement accounts to push leftist causes.

LABOR DEPARTMENT CLEARS PATH FOR 401(k) PLANS TO OFFER ESG FUNDS.

Some workers may not notice any changes to their 401(k) and other retirement options over the next year or two, but others will soon find themselves stuck choosing between a short list of ESG-focused investment funds, effectively requiring some workers wanting to take advantage of the tax benefits offered by 401(k) plans to contribute to beliefs with which they do not agree.

The Biden administration claims that fund managers that take advantage of the new rule are not abandoning their commitment to help retirees earn a profit, because they say that good investment decisions should take climate change and other ESG factors into account.

Second, the new Biden rule permits employers to make an ESG fund the default option for employees enrolled in 401(k) accounts.

Third, if your employer or pension manager severely limits your options so that ESG investing is hard to avoid when contributing to a 401(k), consider other investment opportunities that would put you in greater control of your money.