Thursday, April 6, 2023

Mutual Of America Strikes Deal To End 401(k) Fee Suit

Mutual Of America Strikes Deal To End 401(k) Fee Suit

By Patrick Hoff

Mutual of America Life Insurance Co. has agreed to resolve a proposed class action alleging it violated federal benefits law by permitting its employee retirement plan to use a proprietary record-keeping system and offer proprietary investments to generate profits at the expense of plan participants.

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