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$40 Million Settlement Approved in Reliance Excessive Fee Case
American Retirement Association [ARA] 
Mar. 10, 2021 "Reliance will pay $39,800,000 ... Those still in the plan will have it deposited into their 401(k) accounts; those who have since left the plan will be given the choice of either a cash distribution or of having it rolled over into another tax-deferred account. Class counsel [Schlichter Bogard & Denton LLP] will receive a percentage-based attorney's fee of $13,266,266[.]" MORE >> |
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