Oklahoma fossil fuel blacklist could cost retirees millions

[chuter]

There isn't any hard evidence that this will hurt the pension funds, and it may end up helping if the articles saying ESG investing performs poorly are correct. There is evidence of that.
Who are the people that came up with the info in the article? Could they lean towards the climate crisis side of things?

 

[BobbyV]

There isn't any hard evidence that this will hurt the pension funds, and it may end up helping if the articles saying ESG investing performs poorly are correct. There is evidence of that.
Who are the people that came up with the info in the article? Could they lean towards the climate crisis side of things?

I don't know the politically leanings of whoever wrote it . . . I guess we'll just have to see if there is any negative impact. It just wreaks of poor planning to me.

 

[GC7]

Do the consequences retirees could face matter? That's my entire point. This seems to all be done to score points with people and no real "back-up" plan seems to be in place.

I know many here are retired, so this is going to come off harshly, but ANY nation that exists for the benefit of the elder class is not long for this earth. Unfortunately, modern medicine has made it possible for people to live much longer than many aspects of society are accounting for so things are getting rather "top heavy" right now.

http://www.english-for-students.com/a-society-grows-great-when-old-men-plant-trees.html

 

[BobbyV]

I know many here are retired, so this is going to come off harshly, but ANY nation that exists for the benefit of the elder class is not long for this earth. Unfortunately, modern medicine has made it possible for people to live much longer than many aspects of society are accounting for so things are getting rather "top heavy" right now.

http://www.english-for-students.com/a-society-grows-great-when-old-men-plant-trees.html

Sorry. I'll not fault or find blame in someone who contributed to a fund throughout their working life and expects to receive the benefits of those contributions as deserved. Not sure how that's characterized as existing for the benefit of the elder class.

I'll be 52 in November. I just retired May 1 with 28 years of active duty with the PHS and got my first pension check last week. Went back to work May 7 to begin another career where I can work 5 years and qualify for another retirement. While it would be deferred until I hit 62, I would definitely be more irritated if my TSP lost money due to an administrative change instead of normal market fluctuation.

 

[Glocktogo]

Sorry. I'll not fault or find blame in someone who contributed to a fund throughout their working life and expects to receive the benefits of those contributions as deserved. Not sure how that's characterized as existing for the benefit of the elder class.

I'll be 52 in November. I just retired May 1 with 28 years of active duty with the PHS and got my first pension check last week. Went back to work May 7 to begin another career where I can work 5 years and qualify for another retirement. While it would be deferred until I hit 62, I would definitely be more irritated if my TSP lost money due to an administrative change instead of normal market fluctuation.

You may have been losing money in your TSP for quite some time, due to ESG infecting your portfolio without you ever knowing it. Blackrock, Vanguard, State Street and most of the other public fund management corporations are infected with it.

So for all you know, this law might increase your returns. You may never know, but this is definitely more transparent than ESG is. Ultimately of ESG gets neutralized, these laws will become moot and investors can hopefully get back to being a priority for these corporations. Well, second to themselves of course.

 

[BobbyV]

You may have been losing money in your TSP for quite some time, due to ESG infecting your portfolio without you ever knowing it. Blackrock, Vanguard, State Street and most of the other public fund management corporations are infected with it.

So for all you know, this law might increase your returns. You may never know, but this is definitely more transparent than ESG is. Ultimately of ESG gets neutralized, these laws will become moot and investors can hopefully get back to being a priority for these corporations. Well, second to themselves of course.

My TSP account is less than 2 months old soooooooo . . . .

 

[SoonerP226]

My TSP account is less than 2 months old soooooooo . . . .

TSP, as far as I can tell, is a Federal pension, so I don’t see how it could possibly be affected by state policy.

My OTRS pension, on the other hand, is. I dislike politics being injected into what should be a straight-up financial decision, just like I disliked it when thought-free pawns tried to force TIAA-CREF to dump tobacco (and other non-PC) stocks about 20-25 years ago.

The problem in this instance is that the politics have already been shoehorned into the decision on the other end. This may not balance the scales, but it is a positive step toward fighting back against ESG.

 

[CHenry]

Don't mess with my pension is all I'm saying. O&G can lease my minerals in Beckham Co please

 

[BobbyV]

TSP, as far as I can tell, is a Federal pension, so I don’t see how it could possibly be affected by state policy.

My OTRS pension, on the other hand, is. I dislike politics being injected into what should be a straight-up financial decision, just like I disliked it when thought-free pawns tried to force TIAA-CREF to dump tobacco (and other non-PC) stocks about 20-25 years ago.

The problem in this instance is that the politics have already been shoehorned into the decision on the other end. This may not balance the scales, but it is a positive step toward fighting back against ESG.

I didn't say my TSP would be impacted by this state decision. I said I'd be put out if it was impacted by a similar administrative decision that caused a loss instead of normal market fluctuation.