Prudence & Loyalty in Selecting Plan Investments & Exercising Shareholder Rights
What: Seeking Public Comment
Who: Employee Benefits Security Administration, Department of Labor
Deadline: December 13
The Department of Labor is seeking comment on proposed amendments to the Investment Duties regulation under Title I of the Employee Retirement Income Security Action of 1974 (ERISA) to clarify fiduciary duties of prudence and loyalty to selecting investments.
The proposed amendments include language to clarify that the "fiduciary's duty of prudence may often require an evaluation of the effect of climate change and/or government policy changes to address climate change on investments' risks and returns."