DOL Issues Proposed Rule on Environmental, Social, and Governance (ESG) Investing for Retirement Plans | Practical Law
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The Department of Labor (DOL) has issued a proposed rule that would amend DOL Regulation Section 2550.404a-1 to clarify the legal standards under Sections 403 and 404 of the Employee Retirement Income Security Act of 1974 (ERISA) that apply to a retirement plan fiduciary's decision to invest plan assets because of non-financial objectives, including environmental, social, and governance (ESG) factors (also referred to as economically targeted investments (ETIs)).