On October 14, 2021, the U.S. Department of Labor (DOL) released a new proposed rule, "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights," that (again) seeks to define the extent to which a plan fiduciary may take into account Environmental, Social, and Governance (ESG) factors in investing plan assets. The proposed rule also addresses a plan fiduciary’s duty to manage shareholder rights appurtenant to investments in shares of stock, such as proxy voting.
Originally published in Tax Management Compensation Planning Journal on December 3, 2021.
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