Partner Elizabeth Goldberg is quoted in a Bloomberg Law article about the implications of a new rule from the US Department of Labor for fiduciaries of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 on how to consider environmental, social, and governance (ESG) factors in plan investments. The article notes that the rule will let employers consider participant preferences in picking 401(k) menu options.
“The rule is pretty neutral on ESG investing until it contemplates this idea that participant interest could be a relevant factor,” Elizabeth said. “That seems to undermine the neutrality the department emphasizes in the rule up to that point.”
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