Hobby Lobby recently won a case in the Supreme Court that exempts them from having to be force to cover contraceptives for female employees. Hobby Lobby advocates that interfering with an already fertilized egg is an act unacceptable to the family because it is tantamount to abortion. They refuse to participate in covering contraceptive for female employees under the Obama care, no matter what the Affordable Care Act may require.
Their case gained the interest of pro-life advocates, and the support of the religious organizations concerned with their fight to be excluded from the requirements to grant their employees contraceptives and pay for drugs which can and do lead to early pregnancy abortions.
Hobby Lobby attorneys built a suit case against the Obama Administration over Obama care’s requirement. They argued successfully before the U.S. Supreme Court and finally were able to win the case on the grounds that taking part in such an action violates the business owners’ religious convictions protected by the Constitutional First Amendment.
However, a controversial matter in Hobby Lobby’s case is the fact that apparently they have a 401(k) plan for their employees that is investing in companies which make the abortion drugs and contraception pills. Some critics went as far as declaring that the company’s owners are hypocrites. However, this is a kind of twisted logic and the argument is ridiculous for several reasons.
401(k) plans are not invested by employers and business owners but they are directed and invested by employees. It’s the Hobby Lobby employees who choose which the mutual funds to invest in and not their bosses. And the employees of the Hobby Lobby company do not necessary share the same values and religious convictions as the owners of the company.
The menu of investment choices in mutual funds are provided by the 401(k) plan administrator and not by the Hobby Lobby employers. Another fact is that a 401(k) plan does not invest in actual company stocks but in mutual funds that have small indirect ownership of thousands of stocks or in index funds with share in the entire stock market. In this situation is obvious that the employees do not have much of a choice whether or not to have their shares in abortion and contraceptive pills makers.And the owners of Hobby Lobby have nothing to do with this choice.
The ones who could be accused of hypocrisy in this matter would be Redden and Ungar, reporters who made harsh critics of the Hobby Lobby owner’s case. Their employer’s, Mercury Public Affairs’ 401(k) plan invests in stocks defense contractors and of oil and gas companies. This can’t be called a model of social conscious choice. Should we call them hypocrites then for holding shares in such a 401(k) plan? It’s obvious that the 401(K) investment issue is just a week and even absurd argument employed by the secular Left.
It can really get complicated when it comes to investing in stocks with your 401(k), unless you were interested in becoming a stock broker, so don’t get frustrated if even you’ve been able to avoid paying for abortion coverage but are still investing in companies that make abortion medication. Just do the best you can.