DOL Issues Final Rule on Proxy Voting by ERISA Plans
By EsqSocial Corporation 11/01/21
The U.S. Department of Labor (the “DOL”) recently issued a final rule (the “Final Rule”) under the Employee Retirement Income Security Act of 1974 (“ERISA”) to clarify plan fiduciaries’ duties with respect to proxy voting and other shareholder activities. The Final Rule affirms the DOL’s long-standing view that proxy voting and other shareholder activities are part of a fiduciary’s obligation to manage plan investments in accordance with the ERISA duties of prudence and loyalty......
By: Foley Hoag LLP