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New York Attorney General James Announces $97 Million In Restitution For TIAA Customers Misled Into Investing In Higher-Fee Accounts - TIAA Relied On Reputation As A "Trusted Partner" And "Objective" Financial Advisor To Pressure Clients Into Paying Hundreds Of Millions In Fees - Victims Of Fraud Included Teachers, Public Sector Employees, Medical Professionals, And Others

New York Attorney General James Announces $97 Million In Restitution For TIAA Customers Misled Into Investing In Higher-Fee Accounts - TIAA Relied On Reputation As A "Trusted Partner" And "Objective" Financial Advisor To Pressure Clients Into Paying Hundreds Of Millions In Fees - Victims Of Fraud Included Teachers, Public Sector Employees, Medical Professionals, And Others
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Lawmakers urged to strengthen savings program for retirees


PUBLISHED 5:46 AM ET May. 25, 2021
PUBLISHED 5:46 AM EDT May. 25, 2021
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More than a dozen consumer, civil rights, and business groups on Monday urged state lawmakers to give final approval to a bill that s designed to aid the state s savings program for private-sector workers by creating a system of automatic enrollment. 
The measure, backed by AARP New York and 15 other groups, would address New York s Secure Choice Savings Program, and require private companies with at least 10 workers who do not already provide their workers with a retirement option to offer them a portable, payroll-deduction IRA and enroll workers automatically unless they choose to opt out.  ....

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