83.9 F
San Fernando
Wednesday, Jun 7, 2023

Councilman Wants to Add ‘Green’ Pension Funds

Valley City Councilman Greig Smith has introduced a motion to have the city’s Deferred Compensation Plan include a portfolio of mutual funds invested in environmentally conscious companies. The compensation plan is a voluntary supplementary retirement savings for about 40,000 full-time city workers to invest pre-tax money towards retirement. The current slate of investments is made up of fixed interest options, stocks, bonds and mutual funds. Smith’s proposal would add funds made up of companies that design and sell products that reduce negative environmental impacts. “We want our employees to have the option to invest their retirement funds in companies that promote environmental sustainability,” he said. “We can protect our environment and our financial futures.” The motion awaits City Council approval.

Featured Articles

Related Articles