Fossil-fuel-free plans available
MONTPELIER — Participants in both the state and municipal defined contribution retirement plans will now have the option of investing retirement savings in a fossil fuel-free mutual fund.
That’s the word from state Treasurer Beth Pearce and Vermont Municipal Employees’ Retirement System Board Chairman Steve Jeffrey.
The state and municipal defined contribution plans are modeled after private sector 401(k) plans. They supplement traditional pension plans and are provided to some employees ineligible for the traditional plans.
Pearce said some employees concerned about climate change have expressed interest in investing in plans that don’t include investments in companies that produce and sell fossil fuels.