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Plan Fiduciaries: You Have No Right to Vote
Winstead PC
[Guidance Overview] Dec. 23, 2020 "[T]he final regulations specify a plan fiduciary is not required to (and, should not) vote every proxy. Rather, when deciding whether to vote proxies and when actually exercising such rights, the plan fiduciary must act solely in accordance with the economic interest of the plan and consider any costs involved (including costs of research).... [T]he plan fiduciary cannot absolve itself of all fiduciary responsibility related to proxy voting merely by delegating such authority to a third party." MORE >> |
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