Last week, the Department of Labor announced that it was withdrawing a guidance memo from 2008 for ERISA plans on Economically Targeted Investments (ETIs), reverting instead to previous guidance issued in 1994. This move had been long sought by a substantial group of responsible investors, who shared the DOL’s concern that the 2008 guidance “unduly […]

Are so-called “too big to fail” banks an issue that investors should factor into their decision making? This is the topic we considered in the Trustee Leadership Forum for Retirement Security’s quarterly webinar series, held earlier this month. MIT Professor Simon Johnson and the AFL-CIO’s Director of the Office of Investment Heather Slavkin Corzo spoke […]

On September 15th, the IRS issued new guidance on mission investing by private foundations that clarified that foundations can use their endowments to further their mission without fear of incurring tax liabilities. The purpose of the guidance is to reassure mission investors that so long as they use a clear, prudent process for underwriting their […]