In FAB 2018-01, DOL Clarifies Its Views on Proxy Voting, Shareholder Engagement, and Plan Investments in ETIs | Practical Law
On April 23, 2018, the Department of Labor (DOL) issued Field Assistance Bulletin (FAB) 2018-01, which clarifies the guidance set out in Interpretive Bulletins (IB) 2015-01 and 2016-01. IB 2015-01 and 2016-01 addressed the legal standards imposed under Sections 403 and 404 of the Employee Retirement Income Security Act of 1974 (ERISA) on a plan fiduciary's decision to invest plan assets in economically targeted investments (ETIs), proxy voting, and shareholder engagement.