Page 3 - Selecting Plan News Today

Roughly a year ago, the Labor Department issued a proposed new rule on “Financial Factors in Selecting Plan Investments”—but that, as they say, was then. This week, we asked readers if their—and their plan sponsor clients’ perspective(s) had changed.

On 20 May 2021, President Biden announced an Executive Order to help “tackle the climate emergency,” a top priority for his Administration.1 The Executive Order builds upon the...

The president appears to want to pave the way for more ESG investing in retirement plans.

To print this article, all you need is to be registered or login on Mondaq.com. On Thursday, May 20, 2021, US President Biden signed an Executive Order, entitled "Climate-Related Financial Risk" (Climate Risk EO), that sets the stage for the US federal government, including its financial regulatory agencies, to begin to incorporate climate-risk and other environmental, social and governance (ESG) issues into financial regulation. The Climate Risk EO further demonstrates...

Biden issues executive order to assess, mitigate climate-related financial risks Bloomberg President Joe Biden signed an executive order Thursday directing federal agencies to assess and mitigate financial risks related to climate change. Under the order, agencies are required to develop a governmentwide strategy within 120 days to measure, mitigate and disclose climate risks. Moreover, the Office of Management and Budget is required to annually publish an assessment of the federal governments ...

To embed, copy and paste the code into your website or blog: ERISA plan fiduciaries may be breathing a small sigh of relief this week after the U.S. Department of Labor (the “DOL”) issued a statement on March 10, 2021, that it would not pursue enforcement actions for violations of two recently published rules related to Environmental, Social, and Governance (“ESG”) investments. Those final rules, including “Financial Factors in Selecting Plan Investments” (published November 13, 202...

To embed, copy and paste the code into your website or blog: On March 10, 2021, the Department of Labor’s Employee Benefits Security Administration (EBSA), the agency charged with interpreting and enforcing ERISA, announced that it will not enforce the Trump-era “Financial Factors in Selecting Plan Investments” rule, which has been perceived as potentially discouraging retirement plan fiduciaries from selecting investment alternatives which emphasize environmental, social, and governance ...

To embed, copy and paste the code into your website or blog: On March 10, 2021, the U.S. Department of Labor (the “DOL”) issued a statement that it intends to revisit its final rules issued late last year on “Financial Factors in Selecting Plan Investments” (summarized here) and “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights” (summarized here), which some viewed as restricting “do-good” or “ESG” investing by investors subject to the U.S. Employee Retirement ...

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On March 10, 2021, the U.S. Department of Labor (the "DOL") issued a statement that it intends to revisit its final rules issued late last year on "Financial Factors in Selecting Plan Investments"...