Newsmakers
DOL Restores More Than $2.4 Billion to Plans, Plan Participants
Investigations led to over 16,000 defined benefit plan participants collecting more than $1.5 billion in owed benefits in fiscal 2021.
Tag: United States Department of Labor (DOL)
Risk
How Can Pensions Best Protect Against Cybersecurity Threats?
Some funds make costly mistakes when it comes to internet security.
Regulation
Bill Seeks to Provide Plan Sponsors with Legal Cover for ESG Investing
Legislators say employers are hesitant to provide ESG options in 401(k)s over fears of being sued.
Regulation
GOP Senators Demand Reversal of DOL’s ESG Decision
Republicans say retirement plans will be harmed if fiduciaries promote justice, diversity, and lower carbon emissions.
Regulation
DOL Will Not Enforce Final Rules on ESG, Proxy Voting
The federal agency will revisit the disputed regulations, enacted in the final days of the Trump administration.
Regulation
DOL Finalizes Fiduciary Exemption Consistent with Best Interest Standard
Investment professionals can collect payment for a wider range of transactions, so long as they satisfy the reinstated ‘five-part test’ for fiduciaries.
Regulation
DOL Eases Overly Prescriptive Stance in Final Proxy Voting Rule
It’s unclear how the rule will be interpreted and enforced after the federal administration changes hands, experts say.
Regulation
DOL Sends Fiduciary Rule Update to OMB
Experts believe the White House will conduct a quick review of the ‘middle-of-the-way’ proposal.
Alternatives
Principles for Responsible Investment Calls for Reversal of Anti-ESG Trump Policies
CEO of UN-backed group says Biden administration has opportunity to ‘make American finance great again.’
Regulation
DOL, Dubious About ESG Pension Investing, Cuts It a Bit of Slack in Final Rule
The regulation still requires that plans only use financial considerations in investments, but says companies’ pollution and bad governance may be factors, too.
The Hodgepodge of ESG Investment Standards Sparks Controversy
MIT study underscores the confusion of ratings, then DOL cites that in proposing curbing sustainability factors in retirement portfolios.
Newsmakers
Treasury Rejects Benefit Cut Requests from Musicians, Teamsters Pensions
MPRA rejections were the first under Treasury Secretary Mnuchin.
Regulation
Advocacy Group Calls New Labor Department Rule ‘Anti-Consumer’
Pension Rights Center says the policy contradicts recent Supreme Court ruling and DOL guidance.
Market Moves
ESG-Friendly Stocks Have Done Better in Virus Downturn, BofA Says
‘A bear market necessity’: Higher employee satisfaction is critical factor, the study concludes.
Newsmakers
DOL Proposes Exemption, New Compensation for Fiduciaries
Investment professionals acting in their clients’ best interest can receive compensation for advice such as rollover recommendations, the agency said.