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Fiduciaries of DST Systems Inc. will pay more than $124.6 million to resolve violations of federal law related to their failure to properly manage the profit-sharing portion of the company’s retirement plan, the U.S. Department of Labor announced.

“This settlement restores hard-earned retirement funds for more than 9,000 participants in DST Systems’ retirement plan,” said Lisa M. Gomez, assistant secretary for employee benefits security. “The U.S. Department of Labor is determined to investigate and seek remedies for potential violations of the Employee Retirement Income Security Act.”

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