On November 22, 2022, the U.S. Department of Labor (DOL) issued a final rule, Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights, that will make it easier for Plan Sponsors to consider ESG or “Environmental, Social and Corporate...
The Voluntary Fiduciary Correction Program (VFCP) allows plan sponsors and other responsible fiduciaries to voluntarily self-correct 19 specific prohibited transactions that violate the Employee Retirement Income Security Act (ERISA) without incurring a penalty....