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DOL Says Citi Racial Equity Program Won't Trample ERISA

By Kellie Mejdrich (October 6, 2023, 5:30 PM EDT) -- The U.S. Department of Labor's employee benefits arm said in its first advisory opinion issued since 2020 that it wouldn't view Citigroup's commitment to pay fees for diverse investment managers overseeing Citi-sponsored benefit plans regulated by the Employee Retirement Income Security Act as an activity subject to ERISA's fiduciary duties....

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