Department of Labor Issues Additional Guidance on Investing Benefit and Plan Assets

The U.S. Department of Labor (DOL) recently issued two new Interpretive Bulletins relating to certain fiduciary implications of investments by employee benefit plans, the first having to do with economically targeted investments and the second relating to the exercise of shareholder rights. Investment committees and other fiduciaries responsible for plan investments may be personally liable for any losses incurred as a result of a breach of fiduciary duty, and should review their investment policies and investment advisory agreements, as applicable, to insure that they comply with the DOL guidelines.