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news photo of President Biden walking from inaugural ceremony down street to White House U.S. President Joe Biden walks on Pennsylvania Avenue during the 59th presidential inauguration parade in Washington, D.C., U.S., on Wednesday, Jan. 20, 2021. (Photo: Victor J. Blue/Bloomberg)

The clock is ticking for the Biden administration to nullify Donald Trump’s restrictions on retirement plan fiduciaries, rules by which the Republican sought to limit their ability to direct money into environmental, social and governance funds.

Trump’s Department of Labor moved earlier this month to adjust the Employee Retirement Income Security Act of 1974 (ERISA) to require those overseeing pension and 401(k) plans to always put economic interests ahead of so-called non-pecuniary goals.

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