The DOL issued a final rule on investment duties for fiduciaries of qualified retirement plans. Under the rule, their investment decisions must be based on financial considerations and the interests of plan participants and beneficiaries. They cannot be based on “socially responsible investing, sustainable and responsible investing, environmental, social, and corporate governance (ESG) investing, impact investing, and economically targeted investing” (i.e., a fiduciary’s personal views) that do not aim to achieve the best financial results. #IdeaoftheDay
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