Monday, February 27, 2017
Tuesday, February 21, 2017
Plansponsor article is short on details but begins:
Wednesday, February 08, 2017
Here is a link to the lawsuit.
According to Plansponsor:
"A new lawsuit argues the practices used by the Teachers Investment and Annuity Association (TIAA) to credit portions of interest payments made by participants on loans taken from their own retirement accounts back to the firm—rather than to the borrowing participant—violate the Employee Retirement Income Security Act (ERISA)."
I have first hand experience with this particular loan scheme. A client of mine was also taken advantage of by it several years back, though I did not learn of it until recently.