In the Margins

Transamerica settles 401(k) excessive fees case

June 29, 2016

By InvestmentNews

Transamerica Corp. has agreed to settle an excessive fees suit with participants in its own 401(k) plan for $3.8 million. Plaintiffs in the suit, Lequita Dennard et al v. Transamerica Corp. et al, allege breach of fiduciary duty under the Employee Retirement Income Security Act of 1974 by Transamerica and affiliated companies for charging excessive administrative and investment management fees. Read the original story from InvestmentNews.

 

 

 

Most Read

10 Things
10 Things...to know about BDCs

Congress created business development companies in 1980 to support job growth and help emerging companies raise funds. As of 2023, there were 139 BDCs with $312 ...

Top of the Agenda - Succession
Vanguard nominates two, as two hit retirement

The Vanguard board expects to add two new independent directors in early 2025 to fill seats that will be vacated when two long-serving independents retire. The ...