Reduce retirement plan fiduciary liability while giving employees a say in how their retirement plan stocks are voted on issues like climate change and reproductive health. Works with your company’s existing retirement plan and can be set up in minutes.
The Problem with Retirement Plans
When employees invest in a fund as part of their retirement plan, the fund not only manages stock investments, but casts votes at shareholder meetings on issues that are important to many employees.
Increasingly, both employers and fund managers are subject to liability over these votes, which not only affect the long-term growth and sustainability of portfolio companies, but are often out of step with employee preferences and values, particularly on environmental and social issues.
Our Vision
We envision a future where employees have Voice - and Choice - in how their retirement fund investments are voted. Through My Money My Vote, employers can make this a reality for their employees, and join hundreds of other companies reducing their fiduciary risk while giving their employees Agency and Voice.
As part of the program, every month, iconik automatically generates a report reflecting employee voting preferences for covered stocks and sends it to the plan’s fund managers. These voting reports serve as powerful data points that can help shape the fund’s voting choices.
What do companies get?
- Helps align retirement plan options with values,
- May help increase plan participation,
- Differentiates your company and its benefits,
- Demonstrates your company’s commitment to empowering and honoring your employees’ values.
- Through the iconik Employer Dashboard, access to aggregated voting data and insights for your company’s impact reporting.
Reducing fiduciary-related risk
My Money My Vote may relieve employers of fiduciary-related risk. In one recent lawsuit, an employee sued over the inclusion of certain Blackrock funds in their employer’s plan, arguing that the funds, through their proxy voting, pursued ESG goals at the expense of performance (see Spence v. American Airlines Inc, et al.). We believe that by giving employees a mechanism for expressing their voting preferences to funds, this type of risk is mitigated.
Spence may ultimately change the compliance landscape, with one prominent law firm recently writing, “plan sponsors may need to dedicate additional resources to evaluating proxy votes by the managers of the investment funds in their plans.”
How it works
- Create your company iconik account.
- We’ll reach out with instructions for adding employees and completing onboarding.
- That’s it! iconik automatically handles the rest. You’ll be able to view ongoing impact reporting and manage employee accounts in the iconik Employer Dashboard.
Pricing
First 1000 companies to sign up: free for the first year (courtesy of As You Sow and iconik). Hundreds of companies have already joined the leading edge of plan sponsors supercharging their retirement plan with My Money My Vote. Use the button below to create your company’s account and claim your free year.
Afterwards: pricing is based on the number of participating employees, as shown below:
| # Employees | Monthly cost |
|---|---|
| 1-30 | $29 |
| 31-50 | $49 |
| 51-100 | $89 |
| 101-200 | $169 |
| 201-300 | $249 |
| 301-500 | $409 |
| 501-1000 | $799 |
| 1001-2000 | $1,299 |
| 2000+ | inquire for pricing |