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Interpretive Bulletin 08-1 and Economically Targeted Investing: A Missed Opportunity
USC Gould School of Law 
Aug. 26, 2009
Excerpt: The assets held in trust by employee benefit plan fiduciaries represent compensation earned by plan participants. In accordance with the duty of loyalty codified by the Employee Retirement Income Security Act of 1974 ('ERISA'), such assets must be invested with single-minded concern for the welfare of the participants and their beneficiaries. Economically targeted investing contravenes ERISA's duty of loyalty by permitting, indeed encouraging, plan trustees to invest plan assets to generate ancillary benefits for persons other than the participants whose labor is embodied in those assets.
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