Pension Expert Urges Court To Reject ESG Rule Challenge

Pension Expert Urges Court To Reject ESG Rule Challenge

April 3, 2023, Law360

Jason Levy's commentary appeared in a Law360 article covering amicus briefs filed by Mark Iwry, a pension expert, in two lawsuits seeking to overturn a U.S. Department of Labor rule governing ESG considerations in ERISA plan investments. The amicus brief urged courts to reject these challenges, arguing that the prior rule and new rule aren't that much different. Jason and a Covington team are representing Iwry in the filing of the amicus brief.

 According to Jason, his client is concerned about the misconceptions in the public sphere about ERISA ESG regulations, and wanted to set the record straight with Wednesday's brief.

"We believe that the final Biden DOL rule should be upheld," Jason said. "Both the final Biden DOL rule and final Trump DOL rule stick closely to the statutory mandate and thus are not nearly as different as many observers think."

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