The Roll back ESG To Increase Retirement Earnings (RETIRE) Act takes great care in explaining the function of applying strictly financial, pecuniary information toward the goal of maximum benefit in the best interest of the participants and beneficiaries enrolled in any given applicable retirement investment vehicle.
September 29, 2023
The Honorable Rick W. Allen
12th Congressional District of Georgia
462 Cannon House Office Building
Washington, DC 20515
Dear Representative Allen,
On behalf of the 2.2 million members of AMAC – Association of Mature American Citizens, including 5,200 in who reside in GA 12, I write to convey our support for H.R. 5339, the RETIRE Act.
In an era of our nation’s history when Diversity, Inclusion, and Equity (DIE) programs are influencing investment decisions by both federal government and non-government entities; we must act to ensure that financial professionals focus their responsibilities on the needs of their investors and not be bound to a specific political ideology. This is especially applicable when those responsibilities affect the retirement savings of our most senior Americans. We must ensure that they perform their important functions and make the best and fully informed financial decisions in a manner laser-focused on pecuniary concerns with very limited exceptions.
The Roll back ESG To Increase Retirement Earnings (RETIRE) Act takes great care in explaining the function of applying strictly financial, pecuniary information toward the goal of maximum benefit in the best interest of the participants and beneficiaries enrolled in any given applicable retirement investment vehicle. The act recognizes scenarios that, when plans are otherwise equal, a limited non-pecuniary consideration may be applied; and it
outlines that the application must be well and specifically documented so that it may be reviewed by investors and potentially concerned auditors.
AMAC appreciates your work Representative Allen, to protect our retirement saving from the “woke” agenda. By advancing the “RETIRE” Act, you are doing a great service for your fellow Americans.
Sincerely,
Bob Carlstrom
President
AMAC Action
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