A civil lawsuit involving Alabama state employees and Nationwide Retirement Solutions has been settled. State employees who relied on a deferred compensation plan from Nationwide will receive $16 million in the settlement over fees that were paid to a lobbying group for state workers. Both the Alabama State Employees Association and the State Personnel Board have approved the agreement.
The settlement will cover claims made over the lobbying fees and other issues. More than 18,000 active and retired state employees who participated in Nationwide’s plan between 2000 and 2009 will share in the settlement. The amounts to be received will depend on how much they had in the program. Nationwide is paying $15.5 million of the settlement and a consulting firm, Aon, is providing the remainder. Attorney General Troy King handled this claim and did a very good job.
Source: Associated Press
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