Massachusetts Participants Get Social Choice

April 2, 2001 ( - The Commonwealth of Massachusetts has added a social investing option for the 111,000 participants of its deferred compensation plan, joining a growing list of large plan sponsors to extend the option to participants.

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.

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The Domini Social Equity Fund is composed of the stocks of 400 companies that pass social and environmental screens, including:

  • community involvement
  • the environment
  • diversity
  • employee relations

While excluding firms that derive “significant” revenues from alcohol, tobacco, gambling, nuclear power and weapons contracting.