The Department of Labor (DOL) issued a proposed rule with 30-day comment period to address the application of fiduciaries’ duties with respect to proxy voting and exercises of other shareholder rights. The proposal requires fiduciaries to vote any proxy where the matter being voted upon would have an economic impact on the plan and prohibits fiduciaries from voting any proxy that does not have an economic impact on the plan. In our recent webinar, we reviewed the proposal and explained what the changes mean for plan sponsors.
DOL Proposed Regulations on Proxy Voting
By Todd Solomon and Brian Tiemann on October 27, 2020
Posted In Employee Benefits, Fiduciary and Investment Issues
Todd SolomonTodd A. Solomon focuses his practice on designing, amending and administering pension, profit sharing, 401(k), employee stock ownership and 403(b) plans, as well as nonqualified deferred compensation arrangements. He also counsels privately and publicly held corporations and tax-exempt entities regarding fiduciary issues under the Employee Retirement Income Security Act (ERISA), employee benefits issues involved in corporate transactions, executive compensation matters and the implementation of benefit programs for domestic partners of employees.Read Todd A. Solomon's full bio.
Brian TiemannBrian J. Tiemann counsels public and private companies on a broad range of employee benefit matters, including matters related to pension plans, 401(k) plans and executive and incentive compensation. He advises plan fiduciaries with respect to their fiduciary duties, investment policies and alternative investments. He also advises multinational clients on global employee benefits matters, particularly with respect to global incentive compensation plans. Brian has extensive experience negotiating investment management agreements and service provider agreements. Read Brian Tiemann's full bio.
Related Posts
- Environmental, Social and Governance (ESG) Investing for Retirement Plans: Where We’ve Been, and Where We Are Now
- DOL Creates Path for 401(k) Plans to Offer Private Equity Investment Options
- When Are Cryptocurrencies Appropriate Investments for Retirement Plans and IRAs?
- ERISA Litigation: What Have We Learned?
- Cryptocurrency for Employee Benefits Lawyers: What You Need to Know
BLOG EDITORS
STAY CONNECTED
TOPICS
ARCHIVES
RECENT POSTS
- Key Takeaways | How to Prepare for New State Health Privacy Laws
- Family Office Tax Webinar Replay: Compensation Strategies
- Webinar Replay: New Employee Benefits Requirements for Part-Time Employees, Independent Contractors
- A Q&A and More Delay: IRS Begins to Issue Clarifying Guidance on SECURE 2.0 Provisions
- California Imposes New Workplace Violence Prevention Mandate
