Employee funds

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Employee funds (Swedish: Löntagarfonder), sometimes referred to as Wage Earner funds, is a socialist version of sovereign wealth funds whereby the Swedish government taxed a proportion of company profits and put into special funds charged to buy shares in listed Swedish companies, with the goal of gradually transferring ownership in medium to large companies from private to collective employee ownership. The funds were controlled by representatives of Swedish trade unions. After abolition, the accumulated assets were wound up and redistributed through a liquidation process and new institutions created during the dismantling period. The idea was launched in the 1970s by the Swedish Social Democratic Party, and they were in place from 1982 to 1991. During the 2020 United States presidential election, the candidate Bernie Sanders proposed for employee funds to be adopted in the United States.