Acting Director, Office of Regulations and Interpretations

1210-AB95 202004 Unified Agenda of Federal Regulatory and Deregulatory Actions 1210 Employee Benefits Security Administration EBSA 1200 Department of Labor DOL Financial Factors in Selecting Plan Investments

This deregulatory action would supersede and replace the Department of Labor’s prior Interpretive Bulletins on the application of the fiduciary rules in the Employee Retirement Income Security Act of 1974 (ERISA) to pension plan investments selected because they may further collateral economic or social benefits in addition to their investment returns. The proposal would protect participant and beneficiary interests by confirming that ERISA provides that fiduciary consideration of an investment or investment course of action, including selection of designated investment alternatives in an individual account plan, may not subordinate the interests of participants and beneficiaries in their retirement income to unrelated or collateral goals, preferences, or other factors or objectives.

]]> Economically Significant First Time Published in The Unified Agenda Proposed Rule Stage Yes No Deregulatory Not Yet Determined 29 U.S.C. 1102-1104 29 U.S.C. 1135 No NPRM 06/00/2020 Undetermined Undetermined No Undetermined No No Elizabeth Schumacher Acting Director, Office of Regulations and Interpretations 1210 Employee Benefits Security Administration EBSA 202 693-8339 N 5669, 200 Constitution Avenue NW, FP Building, Room N-5655, Washington DC 20210