Massachusetts Participants Get Social Choice
The Domini Social Equity Fund is being added to the $2.8 billion Massachusetts fund. The option was also recently added to the State of California’s $4.7 billion Savings Plus deferred compensation plan and Ford’s $17 billion 401(k) plan.
The Domini Social Equity Fund is the nation’s largest socially responsible mutual fund, with $1.4 billion in assets.
The Domini Social Equity Fund is also now available through several of the nation’s retirement plan distribution platforms, including Goldman Sachs, American General Funds Alliance, Lincoln Life & Annuity Company and Prudential Securities’ PruChoice.
The Domini Social Equity Fund is composed of the stocks of 400 companies that pass social and environmental screens, including:
- community involvement
- the environment
- employee relations
While excluding firms that derive “significant” revenues from alcohol, tobacco, gambling, nuclear power and weapons contracting.
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