Any doubt about the bias of the press? Ask Hobby Lobby!

2014

If you had any doubt about the left leaning bias of the press, this should put your doubts to rest.

The Associated Press: Hobby Lobby 401(k) Invests In Birth Control Makers
The company leading the legal challenge against birth control coverage under the new health care law offers its workers a retirement plan that includes investments in companies making contraceptive and abortion drugs. Hobby Lobby Stores Inc. has a 401(k) plan featuring several mutual funds investing in pharmaceutical firms that produce intrauterine birth control devices, emergency contraceptive pills and drugs used in abortion procedures, according to Labor Department documents and a review of fund portfolios (Hananel, 4/2).

Hobby Lobby has a lawsuit before the SCOTUS seeking exemption from the mandate to cover contraception under its medical plan.

What a stretch to delve into the mutual funds offered within a 401(k) plan to find totally irrelevant information. No employer looks into that information and may not even be the one selecting each mutual fund offered. It’s merely a blatant attempt to embarrass the organization. How many 401(k) plans offer mutual funds that invest in companies that may be offensive to somebody? Ye gads, what if a fund invests in Koch Industries?

3 comments

  1. No, you are wrong. If the owners of Hobby Lobby really DO care about this issue as much as they claim and are willing to spend the money to take it to the SCOTUS, they should be aware of the investments of the funds in their own company 401k. I’m thinking that they really don’t care at all, but are loving the publicity.

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    1. Time for the real world again. Sponsors of 401k plans do not monitor each investment in each mutual fund it may use. Plans could and do have dozens of mutual funds offered.

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  2. No, you are wrong. Idiots on the left very much believe in social investing of plan assets – even if it potentially conflicts with Erisa fiduciary requiements

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