Freedom Tech on Nostr: 401K's are managed by Blackrock, Vanguard, and State Street, as well done smaller ...
401K's are managed by Blackrock, Vanguard, and State Street, as well done smaller investment firms. People invest in their 401K by giving money to those investment firms.
When they give money to those firms, they also hand over their proxy vote to those firms, so Blackrock and friends have the money and the voting power.
Blackrock is the single manager of the federal employee 401K plan known as the TSP (Thrift Savings Plan). Blackrock probably gets over half of it's money and power from the federal employee 401K investment plan.
When they give money to those firms, they also hand over their proxy vote to those firms, so Blackrock and friends have the money and the voting power.
Blackrock is the single manager of the federal employee 401K plan known as the TSP (Thrift Savings Plan). Blackrock probably gets over half of it's money and power from the federal employee 401K investment plan.