In a rulemaking which was separate from the Final ESG Rule but related to it, on December 16, 2020, the DOL issued a final rule confirming its position that ERISA’s fiduciary duties of prudence and loyalty apply to an ERISA plan fiduciary’s exercise of shareholder rights, including proxy voting, proxy voting policies and guidelines, andContinue reading “2021 Predictions on Future Path of the DOL: Proxy Voting”
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DOL Releases Cybersecurity Best Practices
On April 14, 2021, the DOL issued a package of cybersecurity guidance for retirement plan sponsors; fiduciaries who are subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); recordkeepers and other service providers; and participants and beneficiaries. This is the first time that the DOL has issued guidance directly addressing cybersecurity. Continue reading “DOL Releases Cybersecurity Best Practices”