Groom principal George Sepsakos was featured by Pensions & Investments in their article, “DOL’s ESG rule running into political headwinds,” to comment on lawsuits affecting the DOL’s new rule that permits retirement plan fiduciaries to consider ESG factors when selecting investments and exercising shareholder rights.
The lawsuits, filed in Texas and Wisconsin district courts, argue the rules undermine protections for retirement savers and go beyond the DOL’s authority under ERISA.
“It just adds more uncertainty to the process, and I think fiduciaries don’t love uncertainty when they’re making investment decisions,” Sepsakos said.
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