The final ESG rule clarified that proxy voting of plan investments is a fundament part of a plan fiduciary’s responsibilities. Still, questions remain on how that applies practically to defined contribution investment options.
American Retirement Association CEO Brian Graff noted that most DC plans still invest in mutual funds and increasingly CITs as predominant investment menu options. What are the expectations under the final rule for investment committees and plan fiduciaries on evaluating the proxy voting policies of investment managers for those types of investments?
Here’s what the Department of Labor’s Hauser had to say.
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