RLP Capital Launches "Green" 401k
NEW YORK, NY, March 29, 2010 -- RLP Capital, Inc., a co-fiduciary retirement plan consulting firm, today announced the launch of The Green 401k., one of the first comprehensive solutions on the market to promote and advance the use of socially responsible investments in mainstream 401k plans. This solution gives forward thinking companies the flexibility to choose from over 130 socially responsible mutual funds as well as over 8,000 traditional mutual funds. It is backed by unparalleled research designed to allow companies and participants to align their investments with their values. The solution is designed for organizations with at least 100 employees, and RLP Capital, Inc. will assume the role of plan co-fiduciary, taking on legal responsibility for the management of the plan. The Green 401k. answers the growing demand from globally minded citizens who want their investment dollars to support companies with positive social and environmental track records.
In recent years, we have integrated socially responsible investment choices into our 401k plan which better serves the interests and values of our employees. I believe this also creates a greater appreciation of our retirement plan as an employee benefit," said Kim Roberts Hedgpeth, National Executive Director, American Federation of Television and Radio Artists.
The Green 401k's website highlights two recent studies which provide compelling evidence that companies committed to social responsibility or sustainability have outperformed traditional companies in recent years. Additionally, The Social Investment Forum recently released data showing that 65 percent of socially responsible mutual funds outperformed their benchmarks in 2009. This information should further dispel the myth that socially responsible investors have to sacrifice investment performance.
"Responsible investing has experienced significant growth in recent years as consumers are becoming more concerned over issues such as climate change and social issues like the genocide in Sudan. The industry has continued to evolve, and investment managers like Parnassus Investments are looking for opportunities to invest in companies with strong environmental, social and governance practices," said Grant Cleghorn, Director of Institutional Sales & Marketing, Parnassus Investments. "The Green 401k. is a truly unique concept, and RLP Capital is proving to be a thought leader in socially responsible investing in corporate retirement plans."
As experienced co-fiduciary consultants, RLP Capital, Inc. is committed to leading the entire plan management process from the creation of the investment policy statement to the investment menu selection and ongoing monitoring and reporting. "While having a wide selection of investments to choose from is a key component of The Green 401k., running a successful plan all boils down to process and investment manager selection. Our clients can rely on us to lead this process as their co-fiduciary partners," said Bud Sturmak, Managing Director, RLP Capital, Inc. and founder of The Green 401k..
Additionally, this solution has taken an unprecedented step forward by incorporating a proprietary socially conscious ratings system developed exclusively for clients of The Green 401k.. This system assigns each mutual fund one of five different ratings ranging from Not Socially Responsible to Exceptionally Socially Responsible for those funds exhibiting the strongest social and environmental screening criteria.
The Socially Responsible Rating system was created after months of research and analysis to determine the level of social and environmental screening performed by hundreds of traditional and socially responsible mutual funds. The ratings are designed to address the current lack of transparency in traditional plans by providing plan participants with the information they need to be empowered to make educated decisions. "We uncovered some truly fascinating data. We were surprised on the one hand by certain traditional mutual fund companies that were employing some socially responsible practices, and appalled by other fund companies who we discovered were investing in companies with ties to genocide in Sudan," said Bud Sturmak.
About RLP Capital
RLP Capital, Inc. is an independent financial services firm specializing in providing co-fiduciary retirement plan consulting services and comprehensive wealth management solutions to individuals, families, fiduciaries, small businesses and corporations. For the past 15 years, the firm has been committed to helping clients effectively maximize their assets, enhance the quality of their lives, and realize both their personal and financial goals. Information about the Green 401k. can be found at: www.thegreen401k.com.
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