Authors: Jason Behrens, Doug Davison, Jason Manketo, David Miller

U.S. Department of Labor proposes new rule that may impact ERISA plans and fund sponsors pursuing ESG

The DOL’s proposed rule is intended to provide plan fiduciaries with clear guidelines that would prevent any such fiduciary from causing a plan to make an ESG investment unless such investment is made solely in the best interests of the economic welfare of the employee benefit plan.