The IAA joined several other trade associations on July 20 to ask the Department of Labor to extend the July 30 deadline for public comments on its proposal to limit consideration of ESG factors in retirement plan investments.
The DOL recently issued an Information Letter confirming that defined contribution plans may offer as an investment option a professionally managed asset allocation fund, such as a target date fund, that includes as a component private equity investments.
The DOL has provided relief from certain deadlines under ERISA “to help employee benefit plans, plan participants and beneficiaries, employers and other plan sponsors, plan fiduciaries, and other service providers impacted by the coronavirus outbreak.”
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