05.28.25

DOL Abandons Biden’s 401(k) ESG Investing Rule on Appeal

by: Austin R. Ramsey

The U.S. Department of Labor (DOL) will replace a rule permitting companies that sponsor workplace 401(k)s to consider environmental, social and corporate governance (ESG) factors when picking and choosing investments on behalf of workers and retirees. Lawyers for the government filed a status report telling the U.S. Court of Appeals for the Fifth Circuit it will engage in rulemaking set to appear on the DOL’s spring regulatory agenda. A notice-and-comment rulemaking process would be required to rescind the rule altogether.

Read the full article on Bloomberg Law