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Reprints
TIAA-CREF Individual & Institutional Services LLC agreed to pay $97 million to settle conflict of interest charges brought by the Securities and Exchange Commission stemming from rollover recommendations to participants in TIAA record-kept employer-sponsored retirement plans, reports the National Assn. of Plan Advisors. According to the SEC, TIAA-CREF and its Wealth Management Advisers allegedly recommended rollovers to a managed account program called “Portfolio Advisor” because of financial incentives, not because it met the client’s investment needs.
1. UnitedHealth reports significant data breach; personal health info compromised
2. Illinois House passes governor’s 'Healthcare Protection Act’
3. UnitedHealth faces scrutiny over size, operations, and cyberattack
4. Walmart to shut down health clinics due to unprofitability
5. Analyst says Cigna, Humana share prices could put merger back on the table
6. UnitedHealth to close Optum Virtual Care amid telehealth decline