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THE STORY BEHIND THE STORY:

STATE PENSION PLANS

 
 
As stated in a prior article, there are only two states with fully-funded pension plans.  It shouldn't come to anyone's surprise that New Jersey isn't one of them.  On tonight's news, a presidential candidate was interviewed.  He said that he was very much against ESG.  Say what?  What is ESG?  Is this new?
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CNBNews graphic file
 
It turns out that ESG isn't new, it just hasn't received much press by design.  ESG is a means of funding state pension plans and the reason not much has been made public about is - it doesn't work.  There are 24 states limiting the use of ESG or not investing it at all.
 
ESG stands for Environment, Social, and Governance.  It is the word "Governance" which is most troublesome.  President Ronald Reagan once said that the nine most terrifying words are "I'm from the government and I'm here to help."  There isn't much information readily available about ESG, but one can infer that with today's political environment, the "environment" will deal with the Green New Deal and Climate Warming.  Social might address social causes such as Planned Parenthood and its sister company AARP, CRT, BLM, and other similar causes.
 
If you pay into the state pension plan, don't you think you have the right to know how your contributions are being invested and the investments are the most solid possible, not the political cause of the day.  Remember, 24 states are limiting or outlawing the use of these investments completely.
 

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