Gretchen Harders, Member of the Firm, will co-present “ESG Investing: A Plan Sponsor Discussion of DOL’s Final Rule,” a member-only webinar for the ERISA Industry Committee (ERIC).
On October 30, 2020, the DOL published the final rule on Financial Factors in Selecting Plan Investments which clarifies that ERISA’s duties of loyalty and prudence prevent ERISA plan fiduciaries from subordinating pecuniary objectives to non-pecuniary objectives (such as ESG factors) in choosing plan investments products. While ERIC encouraged the finalization of the rule, it also recommended a number of changes to clarify certain provisions and eliminate unnecessary burdens. Most of ERIC’s recommendations were accepted by the DOL.
Ms. Harders will discuss the final rule and how it differs from the proposed rule.
For more information, please contact Ms. Harders.