Tag: Employee Retirement Income Security Act
How important was the 1974 legislation compared to other factors? This year is the 50th anniversary of the Employee Retirement Income Security Act of 1974 (ERISA), so Yale Law School professor John Langbein’s recent article “ERISA’s Role in the Demise of Defined Benefit Pension Plans” seemed timely. My view is that a lot of factors…
At worst, it sacrifices return for social goals; at best it’s expensive active management. The financial services industry seems exercised about the Department of Labor’s proposed rule limiting ESG investing for private pension plans covered by the Employee Retirement Income Security Act of 1974 (ERISA). The DOL states: “It is unlawful for a fiduciary…
