The ERISA Industry Committee Applauds DOL Proposed Investment Selection Rule and Offers Recommendations for Improvements

WASHINGTON, D.C., June 1, 2026 – The ERISA Industry Committee (ERIC) today submitted regulatory comments in strong support of the Department of Labor’s Proposed Regulation entitled “Fiduciary Duties in Selecting Designated Investment Alternatives.” A statement on the submission can be found below and is attributable to ERIC Senior Vice President of Retirement and Compensation Policy, Andy Banducci.
 
“ERIC applauds the Department of Labor for its thoughtful approach to improving the retirement savings landscape. Retirement plans are under attack by lawsuits based on second-guessing, and this regulation will help reaffirm that federal law requires plans to have prudent processes, not perfect outcomes in hindsight. The Proposed Rule is a crucial step in restoring balance, reducing uncertainty, and improving outcomes for tens of millions of retirement savers and plan sponsors. We also appreciate the Department’s requests for stakeholder input throughout the proposed rule, and we look forward to constructively working with the Department in recommending technical improvements.”
 
The full text of ERIC’s comment letter is available here.

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All media inquiries to The ERISA Industry Committee should be directed to media@eric.org.

About The ERISA Industry Committee
ERIC is a national advocacy organization that exclusively represents large employers that provide health, retirement, paid leave, and other benefits to their nationwide workforces. With member companies that are leaders in every sector of the economy, ERIC advocates on the federal, state, and local levels for policies that promote flexibility and uniformity in the administration of their employee benefit plans.