Just Futures takes social justice to retirement plans

Just Futures, a public benefit corporation committed to social justice, is breaking into the public retirement plan market with new options that allow workers to align their savings with their values.

The company founded by movement activists and nonprofit veterans has announced the public launch of its turnkey 401(k) and 403(b) employer-based retirement plans.

Just Futures says it’s answering a call for retirement products that reflect the values of nonprofit workers, as well as those at mission-driven companies.

Aside from offering diversified, low-fee portfolios and integration with major cloud-based payroll providers, Just Futures is partnering with Vestwell, a fintech provider specializing in the retirement plan market, to provide plan administration and record keeping that includes ERISA compliance, reporting, and plan reviews.

Citing a 2023 Nuveen survey, Just Futures said an overwhelming nine-tenths majority (91 percent) of millennial and Gen Z investors say having responsible investment options on their retirement menus would help them stay loyal to their employer.

Cerulli’s most recent research report on the retirement plan space, which highlighted the benefits of tailored retirement solutions, found that a quarter of fund managers already use ESG integration in the overall investment process for their target-date products, while another 25 percent said they’re likely to incorporate it over the next 12 months.

“There was pent-up demand for a retirement plan that reflects the values and day-to-day experiences of nonprofit organizations and their workers,” said George Guerrero, CEO of Just Futures.

Guerrero’s nearly 30 years of financial industry experience includes serving as a founding officer at Axa Funds Management Group and working at True Link Financial, a fintech platform that caters to nonprofits serving the special needs community.

Just Futures said its plans stand apart from others by screening out investments in companies involved in activities such as the prison industrial complex, immigrant detention, weapons manufacturing, employment discrimination, and other areas that run counter to social justice goals.

It’s bringing its social justice 401(k) and 403(b) plans to the public after a successful pilot program with nearly two dozen nonprofits and mission-driven companies across the US.