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Reduce Tobacco Ownership in 401k Plans

Posted By: Jason Vander Weele meta_seperate Date Posted: July 15th, 2010 meta_seperate Category:

I was looking through my 401k plan and noticed that 1/2% of my portfolio is made up of “British American Tobacco Plc” http://quicktake.morningstar.com/syndication/holdings.aspx?cn=GLG117&symbol=VGTSX

As a participant in an employer sponsored plan, I’m unable to cast a vote at the annual shareholder meetings of the plan. However, I was informed that my employer, being the owner of the plan, votes for the interest of the company and employees.

I’d like to urge all employees to inform their employers that making money off tobacco is not the way to go, and to urge employers to vote against portfolio managers or options that use tobacco to profit. At the very least everyone should investigate to know whether or not they are investing in tobacco companies unknowingly.

I think this would be a great step, and a right step, in making medicine better.


1 Comment


Comment By: Stacey Reeves meta_seperate Date & Time: July 25, 2010 at 4:24 pm

Great heads up Jason. I couldn't agree more.