• Gustavo Bernal Torres

ERISA Rule to Curb Sustainable Investing by Pension Funds

U.S. Labor Department finalizes rule on The Employee Retirement Income Security Act of 1974 (ERISA)-

  • The U.S. Department of Labor on Friday finalized a rule clarifying that pension fund managers must put retirees’ financial interests first when allocating investments, rather than other concerns such as climate change or racial justice.

  • ImpactAlpha reports: "The rule drew more than 8,700 comments in a shortened 30-day comment period, with more than 95% opposing it, including all but one of 86 asset managers who filed comments."

Source: https://www.reuters.com/article/idUSKBN27F35M

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