2016 Postmortem

kairos12

(12,843 posts) Mon Jun 30, 2014, 02:48 PM Jun 2014

Hobby Lobby Invests 401(k) Funds in Companies that Manufacture Emergency Contraceptives

http://www.motherjones.com/politics/2014/04/hobby-lobby-retirement-plan-invested-emergency-contraception-and-abortion-drug-makers
snip:

Documents filed with the Department of Labor and dated December 2012—three months after the company's owners filed their lawsuit—show that the Hobby Lobby 401(k) employee retirement plan held more than $73 million in mutual funds with investments in companies that produce emergency contraceptive pills, intrauterine devices, and drugs commonly used in abortions. Hobby Lobby makes large matching contributions to this company-sponsored 401(k).

As usual follow the money, and find the truth. Cash before religious principles, and both of these before women's health and privacy.

4 replies

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Hobby Lobby Invests 401(k) Funds in Companies that Manufacture Emergency Contraceptives (Original Post) kairos12 Jun 2014 OP

K&R valerief Jun 2014 #1

To be accurate, the Hobby Lobby itself doesn't make money on 401k investments hughee99 Jun 2014 #2

What I Find More Important erpowers Jun 2014 #3

Of course Hobby Lobby does this. Been reported on and confirmed awhile back. blkmusclmachine Jul 2014 #4

valerief

(53,235 posts)

1. K&R

Reply to kairos12 (Original post)

Mon Jun 30, 2014, 02:49 PM

Jun 2014

hughee99

(16,113 posts)

2. To be accurate, the Hobby Lobby itself doesn't make money on 401k investments

Reply to kairos12 (Original post)

Mon Jun 30, 2014, 04:30 PM

Jun 2014

They simply allow their employees to invest in funds that invest in big-pharma, and that money goes to the employees, not the company.

In the last paragraph, though, they mention several companies that offer investment portfolios that screen out such "objectionable" (if you want to call them that) investments. It is curious that they're not doing business with those companies.

erpowers

(9,350 posts)

3. What I Find More Important

Reply to kairos12 (Original post)

Mon Jun 30, 2014, 06:45 PM

Jun 2014

"Yet, for years, Hobby Lobby's health insurance plans did cover Plan B and Ella. It was only in 2012, when the Greens considered filing a lawsuit against the Affordable Care Act, that they dropped these drugs from the plan."

blkmusclmachine

(16,149 posts)

4. Of course Hobby Lobby does this. Been reported on and confirmed awhile back.

Reply to kairos12 (Original post)

Tue Jul 1, 2014, 06:22 AM

Jul 2014

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