We recently summarized the regulatory back and forth of the past few years relating to environmental, social, and corporate governance (“ESG”) factors and their impact on ERISA retirement plans and the fiduciaries that oversee them.
As expected, the Biden administration released a proposed rule last year that re-opened the door (previously closed by the Trump
For those with an eye on ERISA and its fiduciary rules, the past few years have caused whiplash when it comes to environmental, social, and corporate governance (“ESG”) investments in retirement plans. With a new rule from the Department of Labor imminent, let’s review where we are, how we got here, and what’s next.
ERISA
The United States Department of Labor (the “DOL”) recently issued a proposed rule on the fiduciary requirements under the federal pension law, ERISA, that apply to the selection and monitoring of environmental, social, and corporate governance (“ESG”) investments in retirement plans. Under the proposed rule, which would be effective 60 days after it becomes finalized,