Tonawanda News — Of the nine mutual funds examined by Mother Jones offered by Hobby Lobby’s 401(k) program, each contained multiple — in some case dozens — of pharmaceutical companies and $73 million in investments into those funds.
Is it surprising that mainstream retirement investments include buying into companies like Teva, which produces the generic version of the Plan B morning-after pill, or Pfizer, manufacturer of two of the most commonly prescribed pills for medically induced abortions? Absolutely not. In fact, if the company wants to make good on its promise to employees to help them save for a future retirement they have a fiduciary duty to invest in blue chip companies like Teva and Pfizer.
My point isn’t merely to call the Green family, owners of Hobby Lobby, hypocrites — though they certainly are.
Whether Hobby Lobby realized the drug companies were included in the mutual funds it helps underwrite for its employees isn’t known. Mother Jones said the company did not respond to requests for comment. It’s worth noting the most recent public filings on their retirement plan date to December 2012, three months after filing their Obamacare lawsuit. It’s also worth noting the birth control pills they now oppose were included on previous employer-sponsored health insurance plans before they decided to sue over the Obamacare provisions.
That’s beside the point.
We need to discredit the bogus argument one person’s religion takes precedent over public policy. The reality is we live in a large and very complicated society where one person’s religious beliefs shouldn’t take precedent over common sense and widely accepted health care provisions that benefit millions of women.
If a company as socially conscious as Hobby Lobby can’t craft a retirement plan that meets its own high standards for religious conformation, who can?