A do-good retirement investing rule set to take effect in January will allow employers
to consider “participants’ preferences” in selecting and monitoring 401(k) menu options,
a first for the heavily regulated private-sector investment selection process.

The final environmental, social, and corporate governance investing rule published last week struck a largely conciliatory tone by eliminating what some retirement plan practitioners feared would become a mandate
forcing ESG considerations.

The agency’s new version of the rule largely reiterates the long-held principles that
the economic interests of plan participants and beneficiaries are paramount. A retirement
plan decision-maker held to a strict fiduciary standard of care has a duty of prudence
and loyalty to consider the financial well-being of the plan’s investors and their
nest eggs, the rule states.

via www.bloomberglaw.com

Well, good, if this is accurate.