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Plan Assets for Retirements, Not Politics, Department of Labor Says
Workforce Management
Oct. 21, 2008
Excerpt: One DOL bulletin, on economically targeted investments, clarifies that 'fiduciary consideration of non-economic factors should be rare and, when considered, must comply with ERISA's rigorous fiduciary standards,' according to a DOL news release issued Thursday, October 16. The second bulletin, on shareholder rights issues, clarifies that plan fiduciaries 'may never increase expenses, sacrifice investment returns or reduce the security of plan benefits in order to promote legislative, regulatory or public policy goals that have no connection to the payment of benefits or plan administrative expenses.'
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