Proxy Voting in Blackout

[Guest TaraD]

What is the industry standard for proxy votes when a plan is in blackout due to transition reconciliation? The assets are held at a plan level until the reconciliation of the participant accounts is complete. If a proxy request is received during this period how would it be handled? Who would vote in the case of non-ERISA plans?

[four01kman]

I'm not sure there is any other answer than the Trustee (or Trustees) of the plan. They have a fiduciary duty to respond to proxy requests on behalf of the plan participants. My experience tells me that most plans do not pass on the proxy voting to participants, except in the case of employer stock.