Commentary by Steven Lofchie
In a Request for Information, the DOL requested public comment on actions to protect retirement savings and pensions from risks associated with changes in climate.
The DOL proposed amendments to ERISA Rules to clarify the application of ERISA’s fiduciary duties of prudence and loyalty to selecting investments and investment courses of action.
The DOL will not enforce two rules finalized late last year concerning environmental, social, and governance factors in plan investment decisions and fiduciary duties related to proxy voting and shareholder rights.
The DOL adopted a final rule setting forth the duties of plan fiduciaries as to voting proxies held by the plans.
A DOL rule proposal that would clarify the duties of ERISA plan fiduciaries on proxy voting was published in the Federal Register.