Fred Reish and Brad Campbell Discuss DOL’s Changing Priorities With InsuranceNewsNet

In the recent InsuranceNewsNet article, “With 20% Staff Cut, Department of Labor Priorities Changing Fast, Analysts Say,” benefits and executive compensation partners Fred Reish and Brad Campbell weighed in on the future of the Employee Benefit Security Administration (EBSA) in the aftermath of agency downsizing.

“Agencies will have to rethink how to do things and examine whether they can be more efficient,” Reish noted. “I think it's counterproductive, and that they've lost a lot of the people who really understood the agency's mission, how things are accomplished.”

Reish and Campbell emphasized that the EBSA’s new leader, Daniel Aronowitz, will need to be creative with his approach regarding lingering issues such as fiduciary status and investing in environmental, social and governance in connection to the Employee Retirement Income Security Act.

“It is going to create the opportunity to build something new,” Campbell explained. “I think the big question for the Trump administration is, will they be able to build something new? And how good will it be?”