• videocam Live Webinar with Live Q&A
  • calendar_month June 30, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel ERISA
  • schedule 90 minutes

New DOL Guidance Regarding Proxy Advisory Firms and Proxy Voting for Retirement Plans

Key Issues for Employee Benefits Counsel, Plan Sponsors, and Asset Managers

About the Course

Introduction

This CLE webinar will provide employee benefits counsel, plan sponsors, and asset managers guidance on the new DOL guidance regarding proxy-related rules for retirement plans. The panel will discuss key issues stemming from DOL Technical Release 2026-1, fiduciary requirements and preemption provisions, proxy voting rights, issues for proxy advisory firms, and next steps for plan sponsors and administrators.

Description

On December 11, 2025, President Trump issued Executive Order 14366 instructing federal regulators to review current ESG related policies. This shift in the legal landscape aims to limit the use of ESG factors in fiduciary decision making, and may cause compliance and litigation risks for plan sponsors and advisors.

The Executive Order directed the DOL to consider treating proxy advisory firms as ERISA investment advice fiduciaries. In response, on April 1, 2026, the DOL issued guidance for administrators and fiduciaries of plans subject to ERISA in Technical Release 2026-1. The new guidance covers the application of ERISA's fiduciary requirements and preemption provisions to proxy advisory firms and their services as it relates to the selection of investments, shareholder rights, and the use of ESG factors when making investments decisions.

Listen as our panel discusses key issues, compliance challenges, and litigation risks in the shifting landscape of ESG and proxy voting rules, and how they apply to proxy advisory firms. The panel will also discuss the application of ERISA fiduciary requirements and preemption provisions, and next steps for plan sponsors and administrators.

Presented By

Taylor W. French
Partner
McGuire Woods LLP

Mr. French is leader of the firm’s employee benefits and executive compensation group. His employee benefits practice covers a wide range of traditional executive compensation and employee benefits matters along with a variety of inter-disciplinary practice areas and industries that are affected by executive compensation and employee benefits laws. Mr. French regularly works with clients to design, implement and maintain equity compensation plans, long-term incentive plans, bonus programs and non-qualified deferred compensation arrangements for executives, employees and non-employee directors. He also advises and represents executives, boards of directors and compensation committees in the negotiation and drafting of employment, severance, retirement, termination and change in control agreements. Mr. French also has extensive experience advising clients on the impact of Code Section 409A on executive compensation arrangements and has assisted clients utilize IRS programs to correct plan deficiencies or operation errors. In connection with his executive compensation practice, he frequently counsels compensation committees of publicly traded clients on the Dodd-Frank financial reform laws and regularly assists with the drafting and preparation of proxy statements and other SEC filings related to executive compensation matters.

Carly E. Grey
Shareholder
Ogletree Deakins

Ms. Grey counsels employers on employee benefit and executive compensation matters. She advises on qualified and nonqualified retirement plans, health and welfare plans, executive compensation arrangements, and payroll and fringe benefits. Ms. Grey also counsels clients on the legal issues arising under ERISA, the Internal Revenue Code, the Affordable Care Act, HIPAA, COBRA, and securities laws. In addition to helping employers resolve day-to-day compliance issues, she advises on complex employee benefits and executive compensation matters.

Credit Information
  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, June 30, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Overview of DOL 2020 and 2022 rules regarding ESG factors

II. Impact of new DOL guidance; Technical Release 2026-1

III. ERISA regulations and requirements for plan sponsors and advisors

IV. Compliance risks and minimizing fiduciary breach of duty claims

V. Best practices for plan sponsors and asset managers

The panel will discuss these and other key issues:

  • Key components of DOL 2020 and 2022 rules for ESG investments by retirement plans
  • Impact of new DOL guidance provided in Technical Release 2026-1
  • Permissible ESG factors in investments in light of the recent DOL guidance
  • ERISA regulations and requirements that must be followed by plan investment committees
  • ESG considerations and vetting plan investments
  • Minimizing fiduciary breach of duty claims stemming from ESG investment decisions
  • Drafting considerations for investment policy statements
  • Techniques and best practices for plan sponsors and asset managers for ESG investments in light of new DOL guidance