New Labor Department rules address benefits administration.

The Department of Labor released final regulations that went into effect Jan. 30, 2023, allowing but not requiring 401(k) plan fiduciaries to take into account an investment fund's environmental, social and governance track record when deciding whether to include the fund among the plan's investment options for employees.

Not so fast: Twenty-five states and three private companies are suing to have the rule permanently tossed out. The lawsuit says the regulations undermine a fiduciary's prudence obligations, which are limited to making money for plan participants.

The DOL has also issued proposed regulations covering contraceptive coverage under the Affordable Care Act. The proposed regs would:

* Leave in place the existing religious exemption for entities and individuals with objections, as well as the optional accommodation for contraception.

* Repeal the provision of the current regs allowing employers with moral objections to contraception to...