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ESG Retirement Investing Final Rule Now Under White House Review

Oct. 7, 2022, 12:38 PM

A final rule that is expected to ease Trump-era restrictions on socially conscious retirement investing has been submitted to the White House’s regulatory office for review, signaling it could be released in coming weeks.

The proposed version, released by the US Department of Labor’s employee benefits agency last October, called for allowing workplace retirement plan managers to consider environmental, social, and corporate governance factors when making decisions about plan investments.

Under the Trump Labor Department’s 2020 regulation, fiduciaries who make decisions about retirement plan investments were limited to considering monetary investment factors.

The Biden Labor Department’s proposal also ...