Hobby Lobby’s Retirement Plan Invests in Contraception Manufacturers-Truth! & Pending Investigation!
Summary of eRumor:
This appears to be a news article alleging that Hobby Lobby has a retirement investment plan with a mutual fund that lists pharmaceutical companies that manufacture contraceptive drugs in the portfolio.
The Truth:
The article is real and was published by the Mother Jones website on April 1, 2014.
The Oklahoma City bases Hobby Lobby is a company who, according to their website, believes in “honoring the Lord in all we do by operating the company in a manner consistent with biblical principles.”
Hobby Lobby does offer investment plans to their employees, who are solely the decision makers in plan participation. The concept of of mutual funds is to provide the customer with a diverse portfolio to invest in for the best pay off during the term of the investment. The list of companies of a mutual fund is the decision of the administrator of the plan, not the employer nor the employee.
TruthorFiction.Com has calls into Hobby Lobby for a statement. We will post more findings when we get a response.
Posted 04/03/14