October 22, 2015

DOL Issues New Guidance to Clarify “Economically Targeted Investment” Rules

On October 22, the Department of Labor (DOL) issued Interpretive Bulletin 2015-01  to clarify the fiduciary standards that apply to the selection of “economically targeted investments” (ETIs) under the Employee Retirement Income Security Act (ERISA). The purpose of the guidance is to confirm that the fiduciary standards applicable to ETIs are no different than the generally applicable ERISA standards for plan investments, and to remove earlier guidance, IB 2008-01, that DOL believed was being misinterpreted.

If you have any questions about the guidance, please contact your Segal consultant or send us a note.

On October 22, the Department of Labor (DOL) issued Interpretive Bulletin 2015-01  to clarify the fiduciary standards that apply to the selection of “economically targeted investments” (ETIs) under the Employee Retirement Income Security Act (ERISA). The purpose of the guidance is to confirm that the fiduciary standards applicable to ETIs are no different than the generally applicable ERISA standards for plan investments, and to remove earlier guidance, IB 2008-01, that DOL believed was being misinterpreted. Although ERISA and DOL guidance is not directly applicable to public plans, this Interpretive Bulletin may provide helpful information to public plan sponsors for purposes of evaluating economically targeted investments

If you have any questions about the guidance, please contact your Segal consultant or send us a note.

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Serena Simons

Serena Simons

SVP, National Retirement Compliance Practice Leader