Class Action Against Teachers' Retirement Plan

A class action on behalf of participants in the New York State United Teachers Member Benefits Trust charges that the Trust accepted payments from insurer ING  to endorse its high-fee annuity product to its plan participants.  The law suit follows last year's investigation and settlement with the New York Attorney General's office, when the Trust paid $30 million to settle related charges.  See NYTimes, Trust Sued Over Backing Retiree Plan.