Publication Date
1995
Journal
Berkeley Journal of Employment and Labor Law
Abstract
In Interpretive Bulletin 94-1 (B 94-1), the Department of Labor defines economically targeted investments (ETIs) as investments which bear risk-adjusted, market rates of return and which also generate collateral economic benefits. lB 94-1 declares ETIs, so defined, to be consistent with the fiduciary provisions of the Employee Retirement Income Security Act of 1974 (ERISA). In his critique of lB 94-1, Professor Edward Zelinsky finds the ET1 concept unsound as a matter of policy and logic and incompatible with ERISA's statutory standards governing pension trustees' investment decisions. Professor Zelinsky views 1B 94-1 as resurrecting the discredited notion of industrial policy. He concludes that the DOL should withdraw IB 94-1 or that Congress should repeal it.
Volume
16
First Page
333
Publisher
UC Berkeley School of Law
Keywords
Department of Labor (DOL), labor
Disciplines
Labor and Employment Law | Law | Law and Economics
Recommended Citation
Edward A. Zelinsky,
ETI, Phone the Department of Labor: Economically Targeted Investments, IB 94-1 and the Reincarnation of Industrial Policy,
16
Berkeley J. Emp. & Lab. L.
333
(1995).
https://larc.cardozo.yu.edu/faculty-articles/305
