Elizabeth S. Goldberg

May 7, 2024 | lexology.com | Elizabeth S. Goldberg |Michael Gorman

The US Department of Labor (DOL) maintains a robust investigatory program for auditing employee benefit plans for potential ERISA violations. Under the Biden administration, the DOL’s ERISA enforcement activities and investigations have remained a high priority. As such, ERISA plan fiduciaries and service providers can expect the DOL to continue its ever-evolving enforcement program targeting both fiduciaries and nonfiduciary service providers.

May 7, 2024 | morganlewis.com | Elizabeth S. Goldberg |Michael Gorman

The US Department of Labor (DOL) maintains a robust investigatory program for auditing employee benefit plans for potential ERISA violations. Under the Biden administration, the DOL’s ERISA enforcement activities and investigations have remained a high priority. As such, ERISA plan fiduciaries and service providers can expect the DOL to continue its ever-evolving enforcement program targeting both fiduciaries and nonfiduciary service providers.

Jan 22, 2024 | morganlewis.com | Elizabeth S. Goldberg

US state and federal laws have increasingly sought to regulate environmental, social, and governance (ESG) investing—a trend that continued in 2023. This increased regulatory focus has impacted benefit plans, including ERISA plans and, especially, public retirement plans. As of January 1, 2024, 20 states implemented anti-ESG investing rules, eight implemented pro-ESG investing rules, and three implemented disclosure of ESG investing rules.

Nov 14, 2023 | lexology.com | Elizabeth S. Goldberg |Julie K. Stapel

The US Department of Labor (DOL) recently issued DOL Advisory Opinion 2023-01A, (Advisory Opinion) addressing racial equity and supplier diversity. The Advisory Opinion answered an inquiry about the application of ERISA’s fiduciary duty requirements to an employer’s racial equity program. The program that the employer proposed is designed to encourage racial diversity in a plan’s asset manager pool.

Nov 9, 2023 | morganlewis.com | Elizabeth S. Goldberg |Michael B. Richman

As discussed in a previous LawFlash, the US Department of Labor’s Final Rule on Prudence and Loyalty in Selecting Plan Investment Options, also known as the ESG Rule, contains provisions on proxy voting, which are not limited to environmental, social and governance issues. As a reminder, the ESG Rule, including the changes regarding proxy voting, will go into effect on December 1, 2023.