A DOL rule proposal that would clarify the duties of ERISA plan fiduciaries on proxy voting was published in the Federal Register.
As previously covered, the proposed rule would affirmatively require fiduciaries not to expend resources on determining how to vote on issues where the determination and vote would not economically impact the plan.
Comments on the proposal must be submitted by October 5, 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.