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Aegon and Transamerica Settle Participant Excessive Fee Suit
PLANSPONSOR; free registration may be required June 30, 2016 "The original complaint suggested that the defendants burdened the plan with layers of superfluous fees; that the plan pays fees higher than its peers; and that the fees go mostly to Aegon, which serves as recordkeeper and investment manager for the plan through its Transamerica affiliates.... [T]he settlement will bring about structural changes in the way the company runs its retirement savings plan -- and how it calculates fees. Payments will also be made to compensate class members." |
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