Retirement Proxy Protection Act amends ERISA to clarify fiduciary duties regarding shareholder rights.
The Retirement Proxy Protection Act amends the Employee Retirement Income Security Act of 1974 (ERISA) to clarify the application of prudence and exclusive purpose duties to the exercise of shareholder rights. It allows plan fiduciaries to adopt proxy voting policies designed to serve the economic interest of the plan. Fiduciaries must act prudently and solely in the interests of participants and beneficiaries when exercising shareholder rights, including voting proxies.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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