News Detail

SWACCA Joins CEA Allies in Filing Comments in Support of the Department of Labor’s Proposed Rule Rescinding the Trump-Era Financial Factors Rule

This morning, comments SWACCA helped develop were submitted to the U.S. Department of Labor by the Construction Employers of America (CEA) in support of the Department’s proposed rescission of the Trump-era Financial Factors rule as part of a larger rulemaking entitled, Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. SWACCA took the lead last summer in drafting comments on behalf of the CEA opposing the Trump Administration’s Financial Factors in Selecting Plan Investments proposed rule because it erects barriers to pension plans investing in projects that create union jobs. SWACCA has also been lobbying the Administration and DOL to rescind the Financial Factors Rule and is pleased that the Biden Administration heeded our calls to rescind this rulemaking.

The comment letter, in its entirety, can be found here.

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