In the Margins
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.
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