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DOL Rescinds Guidance on ERISA Plan Sponsor Vendor Diversity Program
Morgan Lewis 
[Guidance Overview] Aug. 24, 2025 "The 2023 advisory opinion had offered a limited endorsement of an ERISA plan fiduciary's practice of considering a plan sponsor's diversity programs when evaluating what asset manager to retain.... With the new 2025 opinion, however, the DOL focuses on the underlying legality of the vendor diversity program itself -- declaring that the diversity program constituted unlawful discrimination in violation of federal civil rights laws." MORE >> |
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