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Violation Tracker Individual Record

Company: Transamerica Corporation
Current Parent Company: Aegon
Penalty: $5,400,000
Year: 2021
Date: November 22, 2021
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Secondary Offense: pension ERISA violation
Violation Description: Transamerica agreed to pay $5.4 million to settle an ERISA class action alleging that the company filled its 401(k) plan with underperforming proprietary investments.
Level of Government: federal
Action Type: private litigation
Court: Northern District of Iowa
Civil or Criminal Case: civil
Case ID: 1:18cv134
Case Name: Karg et al v. Transamerica Corporation et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: Netherlands
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.