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Thursday, September 29, 2022

Hobby Lobby’s Hypocrisy: The Company’s Retirement Plan Invests in Contraception Manufacturers

OREGON—(ENEWSPF)—April 1, 2014. The owners of Hobby Lobby, a Christian-owned craft supply chain, were highly offended by the idea of having to include the Affordable Care Act’s requirement of providing emergency contraceptives and intrauterine devices in its employee’s health insurance plans. As a result, Hobby Lobby sued the Obama administration taking their case all the way up to the Supreme Court to seek an opinion on whether for-profit companies should be required to provide no-cost birth control to employees. Hobby Lobby’s owners contend that this requirement violates their religious liberty. The Supreme Court Justices are currently formulating their opinion on this matter.

Interestingly, Mother Jones reported on Tuesday that the company’s retirement plan has invested millions of dollars in the manufacturers of emergency contraception and drugs used to induce abortions. Specifically, Hobby Lobby’s 401(k) employee retirement plan holds $73 million in mutual funds that invest in multiple pharmaceutical companies that produce emergency contraceptive pills, intrauterine devices, and abortion-inducing medications.

Read the entire Mother Jones report at: http://www.motherjones.com/politics/2014/04/hobby-lobby-retirement-plan-invested-emergency-contraception-and-abortion-drug-makers.

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