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Class Action Alleges 'Scheme' by TIAA and Morningstar to Drive Participants Into TIAA's Most Profitable Funds
Jackson Lewis P.C. 
Sept. 5, 2024 "The Complaint alleges TIAA and Morningstar developed an investment advisory tool ... deliberately inducing participants to transfer account balances into TIAA's Traditional Annuity and/or Real Estate Account, TIAA's two most profitable investment products. Notably, no plan nor plan sponsor is named as a fiduciary nor a Defendant. TIAA and Morningstar are the sole Defendants." [Kelley v. TIAA, No. 24-5945 (S.D.N.Y. complaint filed Aug. 5, 2024)] MORE >> |
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