ERISA Plan Fiduciaries Receive New Guidance from Dept. of Labor

The Department of Labor (DOL) announced their Final Rule on November 22 to reinstate and clarify the option of considering ESG factors like climate change as well as other material factors when evaluating investments for inclusion in ERISA 401k plans. The Rule also allows ESG options in qualified default investments alternatives (QDIAs) and offers guidance in proxy voting decisions.

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