DOL Final Regs on ESG Investments and Proxy-Related Rules: Key Issues for ERISA Counsel, Plan Sponsors, Administrators
ESG Factors, Tiebreaker Test, Investment Alternatives in Participant-Directed Individual Account Plans, Shareholder Rights
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide employee benefits counsel, plan sponsors, and asset managers guidance on the new DOL final ESG investments and proxy-related rules. The panel will discuss key provisions of the final rules and challenges, the permissibility of ESG factors in investments, the impact on qualified default investment alternatives (QDIA), and clarity for duty of loyalty provisions. The panel will also provide insight into the tiebreaker test, investment alternatives in participant-directed individual account plans, provisions on shareholder rights including proxy voting, and next steps for plan sponsors and administrators.
Outline
- Overview of new DOL final rules for ESG investing
- ESG considerations and vetting investment risks
- Considerations for drafting or modifying investment policy statements
- ESG-themed options in 401(k) and QDIAs
- Best practices for plan sponsors and asset managers
Benefits
The panel will review these and other critical issues:
- Key components of DOL final rules for ESG investments by retirement plans
- Permissible ESG factors in investments in light of the final rules
- ERISA regulations and requirements that must be followed by plan investment committees
- ESG considerations and vetting plan investments
- Minimizing fiduciary breach of duty claims stemming from ESG investment decisions
- Drafting considerations for investment policy statements
- The use of ESG in 401(k) plans and QDIAs
- Techniques and best practices for plan sponsors and asset managers for ESG investments
Faculty
Joshua A. Lichtenstein
Partner
Ropes & Gray
Mr. Lichtenstein is a partner in the tax & benefits department in the firm's New York office and focuses on... | Read More
Mr. Lichtenstein is a partner in the tax & benefits department in the firm's New York office and focuses on ERISA and employee benefits. He advises asset managers and employee benefit plans regarding the investment of plan assets and a wide range of related issues, including how to operate as an ERISA fiduciary, the prohibited transaction rules and related exemptions, and on how to structure and maintain a fund so that it qualifies as a venture capital operating company (a VCOC) or Real Estate Operating Company (REOC) or satisfies the so called ERISA “25% test."
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Sharon Remmer
Partner
Ropes & Gray
Ms. Remmer is a partner in the employee benefits department and focuses on ERISA matters. With more than 20 years of... | Read More
Ms. Remmer is a partner in the employee benefits department and focuses on ERISA matters. With more than 20 years of experience, she advises clients across the asset management and private equity industries on ERISA issues that arise whenever a transaction involves plans or plan assets. Ms. Remmer works with private funds, hedge funds and credit funds on complex issues associated with the investment of plan assets under Title I of ERISA. Her experience ranges from structuring and administering funds to avoid holding plan assets, to advising managers on how to operate funds with plan assets in accordance with ERISA. Ms. Remmer has long been a trusted adviser to plan sponsor clients on all aspects of their fiduciary responsibilities under ERISA, including plan governance, ERISA fiduciary best practices, and the ever-changing regulatory environment regarding ESG. In addition, she works with private equity and other clients to address significant ERISA liabilities in transactions, with an emphasis on finding creative solutions for complex issues that might affect the deal. She also works with many hospitals and universities on employee benefits matters that are unique to tax-exempt institutions, including issues relating to 403(b), 457(b) and 457(f) plans.
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