DOL Issues Interpretive Bulletin 2016-1 on Voting of Proxies on Securities Held in Employee Benefit Plan Investment Portfolios | Practical Law
The Department of Labor (DOL) issued Interpretive Bulletin 2016-1, which provides the DOL's supplemental views on the voting of proxies on securities held in employee benefit plan investment portfolios, the maintenance of and compliance with statements of investment policy (including proxy voting policy), and the exercise of other legal rights of plan shareholders. Interpretive Bulletin 2016-1 withdraws Interpretive Bulletin 2008-2 and reinstates the language of Interpretive Bulletin 94-2 with certain modifications.