A new lawsuit accuses Voya Retirement Insurance and Annuity Co. of pocketing hundreds of millions of dollars in secret profits off the stable value funds it sells to retirement plans (Dezelan v. Voya Retirement Ins. & Annuity Co., D. Conn., No. 3:16-cv-01251, complaint filed 7/26/16).
Retirement investors claim in a class action complaint that Voya manipulates the crediting rate that investors earn off its stable value funds in a way that lets Voya keep “hundreds of millions of dollars annually in undisclosed compensation.” The lawsuit, which seeks to represent a class of “hundreds” of retirement plans, argues ...
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