Voya Retirement Insurance and Annuity Co. beat a lawsuit accusing it of earning undisclosed profits by setting the crediting rate for its stable value funds in retirement plans for its own benefit (Dezelan v. Voya Ret. Ins. & Annuity Co., 2017 BL 234003, D. Conn., No. 3:16-cv-01251, 7/6/17).
A plan participant lacked standing to bring a claim of fiduciary breach under the Employee Retirement Income Security Act concerning Voya’s general account stable value funds because Voya didn’t offer that product to her retirement plan, the Cedars-Sinai Medical Center 403(b) Retirement Plan, federal District Judge Victor A. Bolden held ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.