Benefits Blast

After repeated back-and-forth linked to changes in Presidential administrations, the Department of Labor attempts to establish a “principles-based approach” intended to provide “appropriate regulatory neutrality.”

The Department of Labor (“DOL”) recently issued another set of proposed regulations seeking to address the perceived “artificial impediments” imposed by its two sets of final regulations finalized in late 2020.

On August 31, 2020, the Department of Labor (DOL) closed its active summer by issuing proposed rules for plan fiduciaries with respect to voting proxies on behalf of a retirement plan. The DOL’s explanation of the reason for the proxy rules dovetails with the rationale behind its recent proposed rules on environmental, social, and governance (ESG) investments. s.

On June 23, 2020, the Department of Labor (DOL) updated its “investment duties” guidance for Employee Retirement Income Security Act of 1974, as amended (ERISA), fiduciaries to address environmental, social, and corporate governance (ESG) investments.