Hobby Lobby 401(k) invests in birth control makers

Hobby Lobby 401(k) invests in birth control makers

By Andrew Murphy. CREATED Apr 2, 2014

WASHINGTON (AP) - The company that is leading the legal challenge against birth control coverage under "Obamacare" offers its workers a retirement plan that includes investments in companies making contraceptive and abortion drugs.

Hobby Lobby Stores has a 401(k) plan featuring several mutual funds investing in pharmaceutical firms that produce intrauterine birth control devices, emergency contraceptive pills and drugs used in abortion procedures.

Hobby Lobby and others companies have sued the Obama administration, challenging the Affordable Care Act's requirement that employers provide coverage for all approved forms of birth control. They say it conflicts with their owners' religious beliefs.

The Supreme Court heard arguments in the case last week.

Hobby Lobby did not immediately respond to a request for comment Wednesday.

The magazine Mother Jones first reported Hobby Lobby's retirement plan investment holdings.

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